CAF grants US$ 50 million loan for reconstruction of Peru

The Andean Development Corporation (CAF) is to grant a US$ 50 million loan in favor of Peru as a contribution to the work of reconstruction in the areas of the South which were affected by the severe earthquake on June 23.

Enrique García, CAF executive president, said US$ 30 million would come from the recent multisectoral loan approved by the Corporation last March, while the remaining US$ 20 million was a rapid-approval loan to cover the country’s urgent needs in relation to the disaster.

As promised in his letter of solidarity to Peruvian President Valentín Paniagua soon after the tragedy, García said the CAF would also make a donation for specific immediate needs in the Moquegua area, the locality that has suffered the most severe effects of the recent earthquake.