MEF authorizes US$43mn for Foniprel projects

- Thursday, June 2, 2011

MEF authorizes US$43mn for Foniprel projects

Peru's economy and finance ministry (MEF) has authorized the addition of 119mn soles (US$42.8mn) to the national budget for fiscal year 2011.

The funds will be used to partially finance projects authorized last year by the national fund for the promotion of public, regional and local investment, Foniprel, state news agency Andina reported.

The total commitment to these projects is 273mn soles, of which 145mn soles were transferred to local and regional governments last year. Resources will be transferred to local governments in 15 departments as well as the Apurímac, Ica, Piura and Puno regional governments.

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Projects include modernizing potable water and sewerage systems and building sprinkler irrigation systems, as well as irrigation reservoirs and canals.