Peru, Panama Land World Bank Loans

The World Bank has approved a $370m loan to Peru, the second in a series of up to four supporting government initiatives for efficiency in public spending and improved competitiveness. The fixed-spread loan is available on a drawdown basis, and repayable in 21.5 years, including a 13.5-year grace period. The first $200m loan in the program was granted in December of 2006. Separately, the bank approved loans of $35m and $40m to Panama to support government programs to increase the quality of health services and education in rural areas. Each 20-year loan features a 5-year grace period. The bank did not disclose pricing.