Reactivation will be given through the Mipyme Entrepreneur Fund

The Executive Branch formalized the Law that promotes the economic reactivation of micro, small and medium-sized enterprises (mipymes) through the Mipyme Emprendedor Fund, which had previously been approved by the Congress of the Republic.

Through Law No. 31683, published today in the Official Gazette El Peruano, it seeks to increase the productivity of MSMEs and high-impact ventures, with non-financial instruments for dissemination and technology transfer, business innovation, management improvement, productive chains and access to markets.

The norm authorizes the incorporation of 150 million soles, via supplementary credit, in favor of the Ministry of Production (Produce) to later transfer them to the Mipyme Entrepreneur Fund.

Produce and the Ministry of Economy and Finance are also authorized to modify the trust agreement of the Mipyme Emprendedor Fund, which was signed with the Development Finance Corporation (Cofide), as well as to enter into the necessary agreements within a period of up to 60 calendar days.

In addition, the law authorizes that during fiscal year 2023 the Ministry of Production can make financial transfers in favor of Cofide, coming from the balance of the balance generated by the Microenterprise Development Fund (Fondemi), up to the sum of 1 million 500,000 soles.

Said financial transfers are approved by means of a resolution of the head of the Ministry of Production, after a favorable report from the budget office, or the one acting in its place in said document, and it is published in the official newspaper El Peruano.

Source: The Peruvian