IDB Financing Supports Peruvian Mortgage Origination

The Inter-American Development Bank (IDB) has approved a $120 million long-term financing facility to Peru’s second-largest commercial bank – BBVA Banco Continental – to help support the Bank’s plans for mortgage origination. The financing will take the form of senior and subordinated debt and will “better match the maturity of its mortgage portfolio”, according to the IDB. Part of the financing will be disbursed in local currency to help develop soles-denominated mortgage portfolios in Peru.