The World Bank Launches a New Support Program in Peru
On May 2, The World Bank endorsed the 2017-2021 Country Partnership Framework (CPF), a government modernization plan expected to be complete by 2021 when Peru will celebrate the bicentennial of its independence. The endorsement came after a series of consultations with the public and private sector, as well as several civil society organizations.
The CPF values at approximately $500 million dollars for the first two years and will cover three areas of growth: economic productivity, public services to the Peruvian population, and management of the environment and the risks associated with climate change.
While Peru has been one of South America’s fastest-growing economies, the country faces some development challenges to include connectivity between production centers and ports, lack of innovation and private investment, a poor public system in regard to water, sanitation, and health, and access to justice for all.
The CPF will address the issues of connectivity in the country’s most critical areas, improving the quality of water and sanitation in Peru, and building a capacity for managing Peru’s natural resources and vulnerabilities associated with climate change. There will be an emphasis on reconstructing those areas of Peru most severely affected by the recent El Niño flooding and mud slides.
“With this new CPF, the World Bank reiterates its commitment to the Peruvian people and supports the efforts of the administration of President Kuczynski to improve the efficiency and effectiveness of the state and to bring it closer to citizens. All World Bank Group initiatives seek to improve the quality of life of all Peruvians, especially the 40 percent of the population with lower income,” said Alberto Rodríguez, World Bank Director for Bolivia, Chile, Ecuador, Peru and Venezuela.
The World Bank’s support will take the form of financial instruments, technical assistance and exchange of global experiences to contribute to key government objectives.
For more information about the 2017-2021 Country Partnership Framework (CPF) visit worldbank.org.