Announcement of World Bank Approves Loan to Peru for Public Sector Management on October 4, 1982

FOR IMMEDIATE RELEASE .world Bank 1818 H Street, N.W., Washington, D.C. 20433, U.S.A.• Telephone: (202) 477-1234 BANK NEWS RELEASE NO. 83/13 Contact: Ciro Gamarra October 4, 1982 ( 202) 477-8034 WORLD BANK APPROVES LOAN TO PERU FOR PUBLIC SECTOR MANAGEMENT Peru will receive a World Bank loan of $10.2 million for a public sector management project. The $21.2 million project will provide technical assistance for improving management throughout Peru's public sector to enable the country to make better use of its scarce financial and human resources. The project will assist the Central Government in designing and implementing a program budgeting system and an adequate compensation system for managers; and for improving key policy areas such as debt management, investment planning, and taxation. Technical assistance will also be made available to quasi-governmental • institutions for upgrading and strengthening ICSA--a holding company for state-owned enterprises and a subsidiary of CONADE, the National Development Corporation--to strengthen its operations. A selected number of individual state-owned enterprises will also receive technical assistance. Managers of public sector enterprises will be provided with opportunities to improve their managerial capability through training courses at two private institutions for higher education and at the Central Bank. The World Bank loan is for 17 years, including four years of grace, at the variable interest rate. NOTE: Money figures are expressed in U.S. dollar equivalents • •