Peru is one of Latin America’s leading economic powerhouses, and rapid expansion has helped to reduce the national poverty rate by more than 15 percent since 2002. However, the benefits of recent growth have not spread to all Peruvians, particularly those living in the Andean highlands and the Amazon basin. Under-employment and inflation remain high.
- More than 2.3 million of Peruvians—8 percent of the population—live on less than US $1.25 per day
- Peru ranks 79th among nations for social well-being based on the United Nation’s Human Development Index.
It is also home to one of Latin America’s most sophisticated and competitive microfinance markets, with more than 56 microfinance institutions serving roughly 2 million people, largely in the Andean region. Grameen Foundation has been working in Peru since 2007. We currently provide financial services to Confianza and Pro Mujer Peru through our Growth Guarantees program.