Peruvian Social Fund Helps Over 800,000 People in Peru’s Andes

(LIP-ir) — With the purpose of improving the income and living condition of people living in Peru’s Andes, the Social Development and Compensation Fund Project (FONCODES) invested 196 million 470 thousand 667 soles to finance 2,744 projects in benefit of more than 800 thousand people.

Some projects required small investments, but they had a great social impact on rural communities.

One of the main goals of the institutional work done in 2007 was to provide poor people with basic amenities. For this reason, FONCODES financed the execution of 1077 social and economic infrastructure projects that benefited 800 thousand 693 inhabitants.

These projects required an investment of 155 million 448 thousand soles and gave people the chance to start making their way out of poverty.

According to FONCODE’s poverty map, the projects were developed in the poorest rural towns of Peru, and they included new classrooms, health centers, water services, sewers, rural electrification, roads, bridges for vehicular use, and sidewalks.

FONCODES also financed business facilities to allow families and rural communities to enter regional, national and international markets.

News source: ANDINA