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LatinNews Daily - 19 May 2021

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In brief: Peru receives infrastructure loans from IDB and CAF

* Peru’s ministry of economy and finance (MEF) has announced that it has signed off on loans for over US$340m from the Latin American Development Bank (CAF) and the Inter-American Development Bank (IDB) to finance highway infrastructure projects. The loans – US$233.3m from the CAF and US$114.3m from the IDB – will finance the ‘road infrastructure for regional competitivity’ programme (Proregión 1), which aims to build and improve over 4,200km of roads in 16 different departments. This is expected to directly employ over 2,600 people. Finance Minister Waldo Mendoza said that “the Proregión 1 programme will enable the improvement of road infrastructure in departments with exporter potential”, and that this will result in “reduced costs of transporting merchandise and products, and better services for citizens, with benefits for the economies of these regions as well as the country as a whole.”