The Ministry of Economy and Finance (MEF) and the Inter-American Development Bank (IDB) signed three loan agreements totaling $ 140 million, which will be used to finance major projects in the Sanitation, Education and Environment.
The signing of the agreements was made by the Minister of Economy and Finance Luis Miguel Castilla, representing the Peruvian government and IDB President Luis Alberto Moreno.
This funding supports the development of projects that will contribute to the strategy to combat poverty and social inclusion undertaken by the Government of President, Ollanta Humala.
"The loans from the IDB are an indication of support that this international organization provides to the Peruvian Government, in order to contribute to achieving the goals and objectives related to poverty alleviation and the strengthening of the economy Peru in the process of sustained growth and greater social inclusion, "Castilla said.
Since 2003 the IDB has supported Peru in the construction and renovation of more than 6,000 schools, in to provide medical teams with more than 3,500 health centers and hospitals and providing homes to nearly 2,400 people living below the poverty line.
The first agreement relates to an operation of external debt to $ 100 million to finance the project outline Cajamarquilla Nievería and Sweet Potato Hill - Extension of Drinking Water Supply and Sewerage sectors 129, 130, 131, 132, 133 , 134 and 135 of the District and San Antonio Lurigancho Huarochiri.
Cancellation of debt operation will be in 25 years, winning the first installment after five years and six months after signing the loan agreement.
The execution of this work will be undertaken by the company of Potable Water and Sewerage (Sedapal) and seeks to achieve the reduction of cases of diarrheal diseases and intestinal parasitosis in the population located in the district of Lurigancho - Chosica in the district San Antonio, Huarochiri province (Lima).
This project will directly benefit 72.478 inhabitants.
The second financing is up to $ 25 million to finance the Improvement of Early Education in Ayacucho, Huancavelica and Huánuco, the same to be executed by the Ministry of Education (Minedu). Hipotecas prestamista
The operation of debt cancellation is within 25 years, winning the first installment within six years from the effective date of the loan agreement.
This project seeks to improve the quality of early childhood services for children three to five years in the departments of Ayacucho, Huancavelica and Huánuco, ensuring adequate and safe learning spaces that facilitate the learning process.
It also seeks to improve teaching practices and management of educators through relevant educational materials support and family involvement to support the learning achievements of children.
Their activities include 20 districts of the Local Education Management Units La Mar (eight) in Ayacucho, Acobamba (eight) in Huancavelica and Pachitea (four) in Huanuco.
Finally, the third funding is up $ 15 million and is oriented Systems Development Program Solid Waste Management in Priority Areas of Puno, Piura, Ancash, Tumbes, Apurimac, Ica, Huanuco, Puerto Maldonado, San Martin, Junin, Lambayeque, Loreto, Ayacucho, Amazonas, Lima and Pasco.
The loan will be repaid in one installment, which will expire on September 15, 2024.
This program, whose implementation will be in charge of the Ministry of Environment (Minam), aims to improve environmental quality for the efficient and sustainable solid waste management, funding eight of the 31 public investment projects.
The external debt operations bear an interest rate three-month Libor plus a margin to be determined by the IDB, in accordance with its policy on interest rates.
It also provides for the possibility that MEF makes use of two financial instruments denominated Facilitating Easy Currency Conversion and Conversion Rate.
The first gives the government the ability to request conversion of the balance of payments or soles, while the second allows you to change some or all of the balances due to rate based on Libor at a fixed rate of interest, or vice versa .
