Peru’s Fondo MiVivienda secures $300m loan for sustainable housing programs

The first loan is for up to 551.55 million soles (approximately $150 million), and the second also for up to $150 million, and which will be used by Fondo MiVivienda to finance housing projects under its sustainable housing programs.

The programs are MiVivienda Sostenible, which offers subsidized mortgage loans for the acquisition of sustainable housing, with eligibility criteria based on renewable energy sources and water consumption; Financiamiento Complementario Techo Propio, which provides subsidized mortgage loans aimed exclusively at vulnerable and low-income families to enable them to purchase, build or improve their homes, and include basic services.

The third program, Nuevo Crédito MiVivienda, is a subsidy aimed at financing mortgage loans to purchase, build or improve homes.

Fondo MiVivienda is committed to allocate, to the extent possible, at least 50% of the funds obtained to finance mortgage loans granted to Peruvian women, according to the social housing agency.

Fondo MiVivienda was advised in Peru by law firm Rebaza, Alcázar & De Las Casas, with a team led by  partner Rafael Alcázar, with senior associate Fiorela Ccahua and associate Valeria Sánchez.

It was counseled in  New York by Simpson Thatcher & Bartlett LLP, with a team led by partner Juan Francisco Méndez, with senior counsel Kirsten L. Davis, and associates Laura Grisales and Enrique Güijosa.

JP Morgan Chase and MIGA were advised by Norton Rose Fulbright US LLP, whose team was led by  partner Daniel Spenser, with counsel Jose Cobeña, and were advised in Peru by Rodrigo, Elías & Medrano Abogados, whose team was led by partner Nydia Guevara, with associate Sebastián Briceño.