Andina

President: Government creates Reactiva Peru Program

16:53 | Lima, Apr. 3.

The Executive Branch on Friday approved the Legislative Decree that creates the Reactiva Peru (Reactivate Peru) Program by which the Public Treasury will grant a guarantee of S/30 billion (about US$8.675 billion) to finance companies.

President Martin Vizcarra specified that this program will serve 350,000 companies in the country, of which 314,000 are micro-enterprises —each of them with less than 10 workers.


The top official stated that the Reactiva Peru program seeks to reach out to companies affected by the paralysis of the country.

"Given our intention to prevent the virus from spreading, we have paralyzed the country, which is why companies have also been paralyzed; thus, they have no income to meet their commitments," he expressed.

The statesman explained that the Central Reserve Bank (BCR) will give liquidity to financial companies, whereas the Ministry of Economy and Finance (MEF) will put the guarantee, so that the affected companies remain subject to loans and can thus obtain the capital.

"We want companies to be able to continue working and remain operational, once the state of emergency has come to an end, in order to improve the economy and gradually return to the normality that we all expect," he remarked.



On this occasion, the President was joined by members of the Council of Ministers. The event was held at the Government Palace in Lima.

Friday marks the nineteenth day of mandatory social isolation.
(END) RGP/JJN/MVB

Published: 4/3/2020