Peru will strengthen the management, quality and coverage of social programs overseen by its Ministry of Development and Social Inclusion (MIDIS), with support from a US$300 million Inter-American Development Bank (IDB) policy-based loan.
MIDIS manages and coordinates all government activities related to social development and inclusion designed to reduce poverty and inequalities.
The loan will support the Peruvian government in its efforts to efficiently execute strategic programs and to strengthen the ministry’s capacity to evaluate policies,manage social programs through a result-based model and continuously improve the quality of social services.
Technical support will be provided for strategic programs on early childhood and economic and financial inclusion, such as Cuna Mas and Juntos. It will also support the consolidation of innovative management-for-results financial instruments, such as the Performance Stimulus Fund.
This loan is the second and last one of a series of policy-based operations launched in July 2013 to support Peru in the design, implementation and evaluation of a social inclusion and development policy.
The loan is for 10 years, with an interest rate based on LIBOR.