The World Bank on Thursday approved $2.5-billion in new three-year credit lines for Peru to bolster the country’s finances as it struggles with slowing growth and fiscal pressures brought on by the collapse of commodities prices.
The World Bank said the two facilities approved by its executive board, each for $1.25-billion, are contingency loans that Lima could draw upon in the event of economic or environmental shocks, thus protecting the government’s financial plans.
