Salvadoran Cooperative Funds via Remittances

In terms of issuance, diversified payment rights (DPRs) deals have made a poor showing so far this year, with Scotiabank Peru the only originator to have hit the market.

Now there is an El Salvadoran deal as well. While small in size and funded by the International Finance Corp. (IFC) as opposed to the market, the transaction is a landmark for the evolution of this asset class on more than one front.