The Ministry of Foreign Trade and Tourism announced that the new measures to be introduced on March 1st will allow 125,000 people to resume their jobs in restaurants and around 260,000 tourism professionals to go back to work over the following six months.
The Bank for Development of Peru announced it was introducing a further 80 million soles ($21.94 million) as part of the Agricultural Business Support Fund. This fund aims to help small farmers affected by the pandemic by providing loans with a state guarantee between 95% and 98%.
The Spanish energy company Repsol announced that it intended to acquire 100% of La Pampilla's Refinery shares. The decision regarding the main fuel refinery in Peru will be made on 24 March at the shareholders' meeting.
During the Forum for the Progress of South America, Peru's President mentioned the importance of considering creating a multilateral insurance mechanism for joint negotiations over compensation in case of negative vaccine effects. Sagasti also stressed the need to strengthen the national health systems to control the virus in the region.
To respond to the rising price of copper, top producer Peru's Southern Copper plans to push forward new and pending projects, such as the $5.4 billion Chancas and Michiquillay projects. In addition, the firm is waiting for board's approval of a $1.35 billion smelter project in southern Peru.