The Peruvian Government published Supreme Decree No. 043-2024-EF, which approves the foreign debt operation of up to US$300 million with the Inter-American Development Bank (IDB), within the framework of Law No. 31640, Peruvian Debt Law. Public Sector for Fiscal Year 2023.
The US$300 million are intended to partially finance the “Road Infrastructure Program for Regional Competitiveness – Proregion 2”, executed by the Ministry of Transportation and Communications (MTC) through Provías Descentralizado.
Proregion is part of the Logistics Development Plan on Subnational Roads, which promotes regional integration and competitiveness, through the intervention of the roads of the subnational road network, belonging to the feeder network of each selected logistics corridor.
Regarding the cancellation of the aforementioned external debt operation, this will be carried out within a period of 20 years, counted from the date of signing the Loan Contract, through semiannual and consecutive installments, which includes a grace period of 6 years.
“The external debt operation accrues an interest rate based on the SOFR rate, plus a margin to be determined by the IDB, in accordance with its interest rate policy,” the document states.
The aforementioned external indebtedness is subject to a credit commission on the undisbursed balance of the loan, which is established periodically, in accordance with the applicable provisions of the IDB policy, without exceeding 0.75% annually.
During the disbursement period there is no inspection and surveillance commission, unless the IDB restores it, in which case no more than 1% of the financing amount divided by the number of semesters included in the original term of payment can be collected in a given semester. disbursements.
Source: Larepublica
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