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World Bank Supporting Peruvian Reform Efforts

by Mike Godfrey, Tax-News.com, Washington

16 February 2016


The World Bank Board of Executive Directors has approved two loan-backed projects to promote productivity in Peru, one of which will focus on strengthening fiscal risk management.

The first project, benefiting from a USD1.25bn loan, will support the steps being taken by the Peruvian Government to improve public expenditure management in sub-national governments, with the aim of promoting fiscal responsibility and making their operations more efficient and transparent, the Bank said.

The second project, also backed by a USD1.25bn loan, will support efforts to strengthen the quality of public education and improve the business environment for enterprises by reducing entrance, operation, and market exit costs. It will also support the creation of a simplified customs regime to facilitate exports and access to international markets, among other things.

"This support from the World Bank recognizes the strength of our public policy reforms geared at improving the quality of education and boosting the country's productivity, as well as strengthening the management of public finances and budget processes," said Alonso Segura, Peru's Minister of Economy and Finance.

TAGS: environment | Finance | tax | economics | business | fiscal policy | budget | education | Peru | Economy

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