Peru to remain largest recipient of Spanish aid in LatAm

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Peru will remain the largest recipient of Spanish cooperation funding in Latin America despite the negative effects of the global financial crisis, said Spain’s Ambassador in Lima, Juan Carlos Sanchez Alonso.

Ambassador Sanchez said his country will continue to support Peru as this has proved to be "a good experience" in the region.

"We’re working to sign a new cooperation agreement by the end of this year which, although a significant reduction from previous years, will still make Peru the largest recipient of Spanish cooperation in Latin America," Sanchez added.

Referring to bilateral relations, the diplomat said the two countries currently experience a good exchange of skilled professionals.

Between 2007 and 2011, the Spanish cooperation in Peru reached 450 million euros, averaging 90 to 100 million euros per year.

The money was used to develop training, microcredit, capacity building, monument restoration as well as water and sanitation programs in the Andean country.

Peru will remain the largest recipient of Spanish cooperation funding in Latin America despite the negative effects of the global financial crisis, said Spain’s Ambassador to Peru.

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