IDB may provide $500 million for public works

The Inter-American Development Bank may provide up to $500 million to fund public projects in Peru, state news agency Andina reported.

The representative to Peru of the Washington D.C.-based multilateral organization, Ana Maria Rodriguez, told Andina that  between $450 million to $500 million could be approved for projects that include a new sustainable energy matrix, as well as projects to manage water resources and sewage.

She added that the IDB may also provide between $100 million and $150 million for private projects, in addition to $200 million that is waiting to be paid out to improve transportation infrastructure.

Furthermore, the IDB will manage some $72 million for water and sewage projects in 90 municipalities in Peru. The financing is being provided by the Spanish government.

The bank is also planning to announce in three months the projects it will finance in a joint campaign with the Andean Development Corporation.

The IDB’s current projects in Peru include a $850,000 technical cooperation grant to finance the development of a national waterway plan. Financing for the plan was approved last February.

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