Peru has been offered a $3 billion loan by the World Bank to back the social agenda of the country’s President Ollanta Humala, Bloomberg reports. Talks for the five-year loan framework may begin soon, adds Reuters. Humala has assured pensions for the elderly poor and higher expenditure on child care and education for low-income families.
The terms of the proposed loan have not been disclosed. The World Bank has 18 projects in Peru totaling $1.9 billion in areas, including rural electrification, water and sanitation and Lima’s bus rapid transit.
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Ollanta Humala Bloomberg World Bank Reuters Peru