The International Bank for Reconstruction and Development (IBRD) has announced the approval of US$ 155 million two-loan to Peru in a bid to support transportation and tourism programs in the south-eastern Cusco region.
The first loan worth US$120 million is intended to finance transportation improvement in the city of Cusco.
The population living in the above-mentioned area will see economic productivity gain from savings in travel, vehicle operating cost reductions reduction and enhanced road system.
The second loan valued at US$ 35 million is aimed at funding the Consolidation and Diversification of the Tourist Product in Cusco and the Sacred Valley of the Incas.
The agreements were signed by the Finance Minister, Luis Miguel Castilla, on behalf of thePeruvian government
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