(MENAFN- Caribbean News Global)
LIMA / USA – Peru will improve and enhance the storm drainage service provided to more than 30,000 homes in the districts of Puerto Maldonado and El Triunfo with help from a $74 million loan approved by the Inter-American Development Bank (IDB). The government of Peru will assign an additional $29.3 million, taking total investment in the project to $103.3 million.
The operation's overall goal is to increase the number of households with adequate access to urban storm drainage services in the two cities, protecting the population from flooding in the areas of intervention and improving the sustainability of the storm drainage service in the Municipality of Tambopata.
The project consists of two components. The first one includes a $96.5 million investment in urban storm drainage infrastructure works, including construction, rehabilitation and enhancement of sewer networks as well as green infrastructure systems for runoff control.
The second component will assign $3.4 million to support local governments' efforts to improve storm drainage infrastructure management with the aim of boosting the sustainability of drainage systems and the management of hydrometeorological risks.
This project complements the work that the IDB Group has been developing to support PROINVERSION in the formulation, structuring and transaction of the private participation process under the public-private partnership modality of the investment project: Improvement of the Sewerage and Treatment System of Sewage of the city of Puerto Maldonado.
This operation is in line with the IDB's Vision 2025 in the areas of economic integration, development of micro, small, and medium sized enterprises, gender and inclusion, and climate change.
The IDB's financing will be disbursed over a five-year term. It has a 14.5-year repayment period, with a 6.5-year grace period and interest rate based on SOFR.
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