World Bank planning US$1.2bn in loans

Thursday, April 28, 2011

The World Bank is planning loans totaling US$1.2bn for Peru this year for water and sanitation, agriculture and rural electrification projects, among others.

"We have a strong and flexible partnership with Peru, because we have a range of activities, services, knowledge and coordination. Plus we regularly exchange information about best practice and innovation," World Bank VP Otaviano Canuto was quoted as saying by government news agency Andina.

The multilateral is expects to continue its relationship with Peru regardless of the results of the second round of presidential elections, to be held June 5, Canuto said.

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The World Bank approved a US$54.5mn loan in February this year to help Lima utility Sedapal improve water and sewerage service in the capital.