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Peruvian Gov't to finance regional projects

08:00 | Lima, Apr. 19.

The Executive Branch —this week— approved some S/2.3 billion (about US$714 million) to carry out works in the country's regions, Prime Minister Cesar Villanueva informed Wednesday.

From this amount, S/1.3 billion (about US$403 million) will be transferred to the regions as agreed at the recent GORE-Executive (Executive Branch and Regional Governors Meeting).

The aim is to resume stalled projects and complete them within the established deadlines.

In addition, Villanueva announced a bonus of S/25 million (about US$7.75 million) will be granted to each regional government, with the purpose of completing ongoing works.

Besides, the official noted the Peruvian Government will allocate an additional S/400 million (about US$124 million) within the framework of the Regional and Local Public Investment Promotion Fund (Foniprel).

Thanks to these efforts, projects —to be part of public investment and attract private investment— will be stabilized in order to achieve economic recovery.

(END) VVS/CCR/JAA/MVB

Publicado: 19/4/2018