MEF approved a contingent loan of up to US$60 million with the IDB

He Ministry of Economy and Finance (MEF) approved a contingent loan of up to US$60 million with the Inter-American Development Bank (IDB) in favor of the investment project “Improvement and expansion of drinking water, sanitary sewerage and wastewater treatment services in the districts of Zarumilla and Aguas Verdes in the province of Zarumilla, department of Tumbes” .

Likewise, through Supreme Decree No. 018-2023-EF it is established that the term for the cancellation of external debt is 15 years, with a grace period of six and a half years from the date of signing the contract. loan, through semi-annual, consecutive and, if possible, equal installments.

In addition, it is subject to a credit commission that does not exceed 0.75% per year on the undisbursed balance of the loan and that is established periodically, in accordance with the applicable provisions of the IDB policy.

Finally, during the disbursement period there is no inspection and surveillance commission, unless the IDB return it during the originally agreed time. In these cases, no more than 1% of the loan amount, divided by the number of semesters included in the original disbursement period, can be collected in a given semester.

It should be remembered that the Government previously authorized another external debt operation (Supreme Decree 012-2023-EF) with the Inter-American Development Bank for up to US$50 million. The purpose of this is to partially finance the investment project “Improvement of the public supply service for goods, services and works”.