29 March 2012: The Inter-American Development Bank (IDB) approved a CAD$19 million grant from the Canadian International Development Agency (CIDA) to support the Program for a Sustainable and Efficient Management of Energy Resources in Peru.

The grant will support Peru’s development in the renewable energy sector by working towards long-term planning, improving efficiency, and establishing a system of transparency in managing public energy companies. The project includes training and staffing of a new energy planning unit. There will also be measures taken to organize the management of public energy companies and to list more public energy corporations in the stock market. The overall focus is on long-term planning on the institutional level to ultimately implement a New Sustainable Energy Matrix (NSEM) in Peru. [IDB Project Website]