World Bank helps Peru to manage the environment with a $330 millions loan.
Peru's recently created Environment ministry will receive a $330 million loan from the World Bank to improve and strengthen the environmental management and for the implementation of environmental policies permitting sustainable development in key sectors as mining, urban transport and biodiversity conservation.
According to the “Environmental Analysis of Peru,” published by the World Bank, the cost of environmental damage amounts to 3.9 percent of the country’s GDP, or approximately $2.3 billion in losses caused by air and water pollution.
Peru’s principal environmental problems are air and water pollution, soil erosion and deforestation. Fishing resources are also threatened due to a combination of factors like the overcapacity of the fishing fleet.