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Report: World Bank arm extends $2.5B in loans to Peru

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Report: World Bank arm extends $2.5B in loans to Peru

The International Bank for Reconstruction and Development, aWorld Bank arm, grantedtwo contingent loans worth $1.25 billion each to Peru, Gestión reported April 4.

The loans are geared toward supporting Peru's "public expendituremanagement and fiscal risk program" and "human capital and productivityprogram," the report said.

Peru's President Ollanta Humala said the loans could be usedin case of a natural disaster or in the face of an economic or financial crisis.They could also be tied to funding major policy reforms related to public spending,strengthening the mechanism of public-private partnerships, educational development,and improving the role of markets and competition, according to the report.