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Andean Group - February 2019

Peru allocates US$5.5bn to alternative development plan

In November 2018 the Peruvian government announced that it would be investing PEN18.5bn (US$5.5bn) in the Valle de los Ríos Apurímac, Ene y Mantaro (otherwise known as Vraem, the valley of the rivers Apurímac, Ene, and Mantaro) over a period of three years. The valley is the centre of much of Peru’s coca production, and the hope of the Devida (the National Commission for Development and Life without Drugs) is that this investment will encourage Peruvian coca growers to abandon that crop (which forms the base ingredient of cocaine) in favour of licit crops.

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