Foncodes invests $4.2 million in VRAE development projects in 2009

Peru’s state development cooperation fund, Foncodes, said Tuesday it invested more than 12 million soles, about $4.2 million dollars, last year in 55 social projects located in the area that covers the Apurímac and Ene river valley’s, known as the VRAE. The area includes 31 districts in the departments of Ayacucho, Junin, Huancavelica and Cusco, [...]

Peruvian Congress’ National Defense Commission approves ordinance authorizing farmers to produce coca flour, sparking controversy

The Peruvian Congress’ National Defense Commission last week approved an ordinance – pushed forward by Ollanta Humala’s Nationalist Party – authorizing farmers to produce and manufacture coca flour, and to use it as a flavoring in beer, wine, candy, and other food products. Though the ordinance is pending a ratification vote by the full legislature, [...]

Police prevent $1.6 billion of cocaine trafficked abroad in first months of 2008

Interior Minister Luis Alva Castro announced yesterday that Peruvian police have seized 5.5 tons and prevented another 14.5 tons of cocaine from being trafficked abroad with a street value at some $1.6 billion since the beginning of 2008. Alva Castro said the 5.5 tons of cocaine were seized from various international crime organizations, daily La [...]