The Peruvian government is seeking a US$300mn loan from the World Bank to partly finance transport infrastructure development projects, according to a bank document posted on its website.
The funding - to be covered by the World Bank Group's International Bank for Reconstruction and Development (IBRD) - would support road and highway projects (80%), and the general transportation sector (20%).
The loan would support an overall US$1.08bn transport infrastructure development program, of which another US$630mn is to be covered by the state and US$150mn by IDB.
The World Bank's contribution is expected to be authorized on October 8, while its approval by the bank's board is expected for January 28, 2010.
According to document, US$200mn of the US$300mn loan would support an US$880mn road rehabilitation and maintenance program developed by the transport and communications ministry (MTC).
Another US$75mn of the funding would support a US$150mn road maintenance program known as Proyecto Perú, implemented by the national roads authority (Provías).
A total of US$20mn would support a US$40mn road safety program to reduce critical points and improve bridges, improving safety standards along a number of national roads.
Finally, US$5mn would support a US$10mn institutional support and transport regulation initiative, which seeks to improve the institutional performance of Provías and other MTC areas, increasing the quality of infrastructure management, monitoring and evaluation by improving information and planning, among other issues.
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