The Peruvian Government, through the Ministry of Economy and Finance (MEF), approved a contingent loan for US$ 500 million with the Andean Development Corporation (CAF)called “Contingent Loan in the Framework of the Post-Covid19 Sustainable Reactivation of Peru”.
Likewise, through Supreme Decree No. 039-2023-EF, establishes that the cancellation of the transfer will be given in 29 installments each semester and the first one will expire 72 months from the date of signing the contract.
In addition, according to the policy established by CAF, it will accrue at an interest rate based on the SOFR plus a margin of 2.00% per year.
“During the first eight (08) years from the effective date of the contract, CAF will finance, on a non-reimbursable basis, seventy (70) basis points (or those that are applicable) of the Interest Rate. Said financing will be carried out from the CAF Compensatory Financing Fund.”, can be read in the letter.
It also refers to the fact that said contingent loan is subject to a commitment commission of 0.35% per year on the undisbursed balance of the loan, as well as a financing commission equivalent to 0.85% of the amount.
This Supreme Decree has been endorsed by the President of the Council of Ministers, Alberto Otárola Peñaranda and the Minister of Economy and Finance, Alex Contreras. Likewise, it has the signature of the president of Peru, Dina Boluarte.
Source: Larepublica
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