Peru gets 300 million euros credit from German bank KfW for digital transformation

(Reuters) – Peru’s government said on Saturday that it would receive a credit of up to 300 million euros ($325.08 million) from the German bank KfW Development Bank to spend on a digital transformation program.

The credit is for 15 years and will be charged a 6-month Euribor rate, plus a fixed margin, according to the official government gazette.

It did not publish details of the digital transformation program.

Peru’s economy grew between 4.5% and 5% year-on-year in May, Jose Arista, the country’s economy minister estimated.

Rocked by several corruption scandals over the past years, Peru is the world’s third largest producer of copper.

($1 = 0.9228 euros)

(Reporting by Deisy Buitrago; Editing by Stefanie Eschenbacher and Diane Craft)

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