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Peru: Investment in reconstruction to total US$2.64 billion by year's end

10:39 | Lima, Dec. 2.

Peru's Authority for Reconstruction with Changes (ARCC) has executed 47.3% (around S/9 billion or US$2.647 billion) of its entire budget (S/19 billion or US$5.589 billion), ARCC Executive-Director Amalia Moreno has reported.

She said more than S/4 billion (about US$1.176 billion) will be invested this year alone. "Works worth nearly S/5 billion (around US$1.471 billion) have been undertaken between 2017 and 2018."

Moreno —who participated in the latest edition of CADE-Executives 2019 in Paracas (Ica region)— noted that all sectors involved in reconstruction are working hard to speed up the completion of works in 13 regions affected by Coastal El Niño Phenomenon in 2017.

Such sectors include Ministries of Labor and Employment Promotion (MTPE); Housing, Construction and Sanitation (MVCS); Agriculture and Irrigation (Minagri); Education (Minedu); and Health (Minsa).

"We also have the support of the Economy and Finance Ministry (MEF), which remains vigilant not only about public investment but also about projects, so that their implementation ensures well-being of the population," he told El Peruano official gazette.

Tailored strategy

Regarding municipal governments, which show low execution rates in reconstruction investment and have problems getting works started, the ARCC representative announced the implementation of a strategy tailored to local authorities' needs.

(END) SDD/RMB/MVB

Published: 12/2/2019
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