Corporacion Financiera de Desarrollo S.A

Corporación Financiera de Desarrollo S.A. (COFIDE), the Development Bank of Peru, has nearly five decades of experience in promoting and financing sustainable development in the country. Headquartered in Lima and regulated by the Superintendence of Banking, Insurance and Private Pension Fund Administrators, COFIDE supports government economic and social development programmes by financing infrastructure, productive investment, financial development and microfinance. Its approach is guided by a commitment to sustainable and inclusive development, seeking positive economic, social and environmental impacts while strengthening Peru’s financial system and supporting entrepreneurship.

COFIDE has built an active network of partnerships with international financial institutions and development finance institutions to expand climate and sustainable finance in Peru. The bank also works with the Development Bank of Latin America and the Caribbean, participates in international sustainability reporting initiatives, and has advanced its own institutional climate practices, including through carbon footprint measurement, a formal Sustainability Policy and an Eco-Efficiency Committee.

Engagement with GCF would allow COFIDE to further support Peru’s national climate goals and nationally determined contribution by channeling concessional resources towards low-emission infrastructure and more resilient productive sectors. Building on its experience with climate credit lines, readiness support, green and sustainable bond issuances, and partnerships with development finance institutions, COFIDE is well positioned to scale investments in renewable energy, energy efficiency, sustainable mobility, MSME climate finance and other projects with positive environmental and social impacts.