US$250 million loan signed with Peru

CAF backs Multi-Sectoral Public Investment Program 2002 The loan covers projects in the social, transport, health, agriculture and education sectors.

May 31, 2002

A US$250 million loan to finance part of the 2002 Multi-Sectoral Public Investment Program was signed today by the Peruvian minister of Economy and Finance, Pedro Pablo Kuczynski, and the CAF executive president, Enrique García, in the ministry of Economy and Finance in Lima.

The drawing, which was approved on April 23, is one more sign of the support the Corporation has been giving to Peru’s efforts to strengthen economic stability and achieve growth with equity as a means of expanding the capacities of the population, García said.

The multilateral financial organization has granted loans for the 2000, 2001 and 2002 multi-sectoral programs totaling US$750 million. The finance has benefited projects in the transport, agriculture, health, education, sanitation and energy sectors among others, which have increased the production of goods and services and improved the living conditions of the population in general.

The social and productive projects will be executed by the ministry through the public credit department in the transport, health, agriculture and education sectors to improve the quality of life of low-income sectors, Kuczynski said.

The minister praised CAF’s contribution to the country’s financing requirements and the economic reactivation and growth process, which the Toledo administration has set in motion.

The loan is payable in 21 consecutive semi-annual installments, starting 30 months after the signing of the agreement.

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