Toledo proposes transport fund

Peru's President Alejandro Toledo has presented a plan to congress that would establish a transport infrastructure trust fund, dubbed Fonfide Vial, to support concession projects, La Republica reported. The law would authorize the finance ministry and state business financing fund Fonafe to transfer resources into Fonfide Vial for a period of 30 years, the paper reported. As such, Fonfide Vial would increase investment in infrastructure works that are often hindered by tight budgets, the paper said, adding this would curtail delays and promote private investment in highway, port and other transport projects.