IFC Takes 6.5% Stake in Mibanco

IFC, the private sector arm of the World Bank Group, has acquired a 6.5% stake in Peruvian microfinance provider Mibanco from the Peruvian Group ACP for over $6m. IFC’s director for Latin America, Atul Mehta, said the operation would “serve to further consolidate its position as one of the main sources of microfinancing in Peru.”