German Development Cooperation in Peru stated on Thursday that it is implementing a new approach in those countries where it provides technical and financial support for projects aimed at various sectors, seeking to identify investment opportunities for German companies or local businesses.
"We have adopted a new approach, implemented by development cooperation agencies around the world, which involves greater engagement with the private sector, particularly German and European companies, as I believe this is highly beneficial for both parties," the Chief of German Development Cooperation in Peru, Nicole Maldonado, told Andina News Agency.
"Through our development cooperation work, we seek to connect economic growth. Peru and Germany have projects, and the idea is to identify where economic cooperation can also take place, that is, where there are investment opportunities for German companies that are not yet here, Peruvian companies, or cooperation between companies from both countries," she added.
The development cooperation official explained that working on projects in partnership with the private sector can pave the way for investment opportunities in technology, water, and transportation.
"We always try to identify the most promising sectors, such as areas where German technology can be used in Peru, as well as other spheres of interest, including transportation, water, and renewable energy," Maldonado said.
"We have also been involved in Lima Metro Line 2, and, as part of our technical cooperation, there is interest in Lines 3 and 4. However, those transportation projects are still at the design stage," she added.
German Development Cooperation in Peru has been operating for 65 years.
It currently has a portfolio of projects worth S/6 billion (about US$1.743 billion) across four priority areas: climate change, forest and biodiversity protection, governance, and urban development.
"The current portfolio is quite large, and that tells us something about what German cooperation is like today, with around S/6 billion, a significant amount," she concluded.
