The green financing will fund scrap metal purchases for circular steel production.
Banco de Crédito del Perú, the main banking subsidiary of Credicorp, granted a green credit line of up to $185 million to Peruvian steelmaker Siderperu. The disbursements will directly finance the purchase of scrap metal, which serves as the primary raw material for the company's steel manufacturing.
The transaction carries a green label under BCP standards designed to support activities that advance environmental targets. In 2025, Siderperu repurposed more than 385,000 metric tons of metal scrap into steel products supplying the construction and industrial sectors.
Gonzalo Montero, Head of Corporate Banking at BCP, explained that the bank aims to support clients transitioning to sustainable business models by financing projects with positive environmental impacts. Raúl Ugarte, CFO of Siderperu, noted that the financing will back the company's circular model and sustain a national network of recycling centers and scrap suppliers.
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