More World Bank Funds for Peru's Fiscal Management, Competitiveness Scheme

Peru’s fiscal management and competitiveness program will receive a supplementary USD330 million loan from the World Bank. “The initiative will improve the efficiency and effectiveness of public spending, a key issue to sustain the virtuous cycle of growth,” said Rossana Polastri, World Bank manager in charge of the operation. “Improved expenditure efficiency can result in budgetary savings that can be targeted to poverty reduction efforts, which will promote human capital development and act as social safety nets for the most vulnerable social groups.” (“Peru: Additional USD330 Million to Strengthen Fiscal Management and Competitiveness” - World Bank, Dec. 18, 2008)

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