A $30 million policy-based loan from the Inter-American Development Bank will support Peru in its effort to strengthen the management of its Ministry of Social Development and Inclusion (MIDIS)
The MIDIScoordinates and carries out social development and social inclusion programs designed to reduce poverty and inequality. Policy-based loans are fast-disbursing instruments that provide budget support to countries undertaking priority programs and reforms.
The Peruvian government isdesigning evaluation policies and strategies to improvethe MIDIS’ ability to deliver services and manage social programs. These programstargetthe most vulnerable groups, which comprise nearly five million people, or about 16 percentof the country's population.
In addition, the project will support data generation and management, the introduction of quality standards in social programs, and improvements in their management. It will also help to consolidate the National Strategy for Growth with Inclusion in priority areas such as early childhood development and economic inclusion.
The project will also support the development of an inclusion policy that takes into account gender, culture, and adaptation of learning and behavior in order to ensure optimal results from social inclusion programs.
The loan has a single amortization date, March 15, 2019, and an interest rate based on LIBOR.