IADB finances Peru road projects with $114m loan

The Inter-American Development Bank (IADB) has approved a $114.3 million loan to improve and maintain a series of roads in Peru. The loan will have an initial disbursement period of five years. It is for a 15-year term, with 6.5 years of grace, and an interest rate based on LIBOR.

The project will see work in 12 prioritized feeding road corridors over a 2,387km stretch of roads. These interventions will help improve access to logistics corridors, firming up resilience to natural disasters and climate change effects, increasing the amount of roads with adequate quality for the transport of persons and goods, cutting logistics costs, helping articulate value chains, and contributing to reduce inequalities through the generation of jobs.

Of the program’s 4.1 million direct beneficiaries, 51% are expected to be women, 11% people with disabilities, and 52% people of native origin. Producers, exporters and transport companies will also benefit.