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Peru: Executive Branch approves transfer of over US$19 million to fund innovative ventures

Comercio electrónico.

08:58 | Lima, Dec. 24.

The Executive Branch has authorized the transfer of S/70 million (US$19.3 million) to the Ministry of Production to finance innovative ventures of micro, small, and medium-sized enterprises (MSMEs), as well as start-ups.

This was established by Supreme Decree No. 403-2020-EF, which was published on Wednesday in El Peruano official gazette.

The regulation authorizes the transfer of items to the public sector budget for fiscal year 2020, of up to S/70 million (around US$19.3 million) in favor of the Ministry of Production, which in turn shall be transferred in favor of the Capital Fund for Innovative Enterprises.

This transfer is carried out within the framework of numerals 1 and 5 of the 17th Final Complementary Provision of Urgency Decree No. 013-2020, which promotes the financing of MSMEs, enterprises, and start-ups, from the resources of the Contingency Reserve held by the Ministry of Economy and Finance (MEF).

The transferred resources cannot be used, under responsibility, for purposes other than those for which they are intended.

The document bears the signatures of Peruvian President Francisco Sagasti, Economy and Finance Minister Waldo Mendoza, and Production Minister Jose Luis Chicoma.

(END) NDP/MDV/RMB/MVB

Published: 12/24/2020

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Peru: Executive Branch approves transfer of over US$19 million to fund innovative ventures

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