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I Love Peru – Local Peruvian news in English

Peru to receive $85 million in loans from Japan

February 21
22:57 2012

LIMA – On Tuesday Peru’s Finance Minister Luis Miguel Castilla, and the Japanese Ambassador to Peru Masahiro Fukukasa signed an agreement in which Japan would give Peru $85 million in loans, to be allocated to finance projects in rural areas of the mountains and jungles.

Peru’s Finance Minister Luis Miguel Castilla with Japanese Ambassador to Peru, Masahiro Fukukasa: Photo via Andina

Castilla said $50 million would be used to fund the Program for Small and Medium Irrigation Infrastructure, in Peru’s highlands; and the remaining $35 million would be used to fund the Program for Water Supplies and Sanitation in the Rural Amazon.

According to El Comercio, Castilla said the programs would increase the income levels and living conditions of the population. “The country’s rural areas in the highlands and jungle will be promoted and assisted through these projects, that combat poverty and promote social inclusion,” Castilla said. The country’s Minister of Finance said the loans would be repaid in 25 years through semi-annual quotas, at an annual interest rate of  1.7 percent.


Apple considers opening store in Peru

LIMA – According to reports in local media, Apple is considering opening its first store in Peru. Jorge Muñoz, mayor of Miraflores, said Apple representatives had traveled to Lima to explore the possiblity of setting up a store in Miraflores.

According to El Comercio, Muñoz said he met with two Apple executives 2 weeks ago, during which the representatives presented the company’s plans for the Lima store. “They were interested in the legal regulations to install their offices,” said Muñoz, adding that he could not reveal specific details of the meeting.

Muñoz said the Ovalo Gutierrez in Miraflores was a possible site for the store.Currently Apple sells its products in Peru through authorized retailers, such as iStore. According to El Comercio, iStore has seen a 20 percent increase in yearly sales, however, Apple products account for less than 10 percent of the consumer electronic market in Peru.


Cusco authorities propose alternative site for new international airport

LIMA – On Tuesday, Cusco transportation authorities announced they were considering Anta, as an alternative location, for the construction of Cusco’s new airport. According to Diario el Sol de Cusco, regional transportation authorities met with Anta mayor Eulogio Uscamyata, and agreed to present Anta as a candidate for the construction of the new Cusco international airport.

“This proposal is important, Anta is located at 2 miles above sea level and is about 15 miles from Cusco,” said Lucio Quisiyupanqui, a lawyer working with Cusco’s regional transport investment agency (Ositran). “It’s a good alternative for the construction of Cusco’s new airport, which is urgently needed,” he said.

Quisiyupanqui said Ositran had spoken with Anta mayor Eulogio Uscamyata, and had discussed the possibility of handing over the land at no cost, in exchange for giving local residents preference for construction and service jobs associated with the airport. Anta is a good alternative, Quisiyupanqui said, to the proposed Chincheros site, which is being weighed down by the demands of local communities.

“Anta wants to have the airport because it knows how important it is for development. Having this great site for development would convert it into a place with vast job creation,” Quisiyupanqui said to Diario el Sol.



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Michele Harvey

Michele Harvey

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