Green and Resilient Development for a Decarbonized Economy in Peru

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The development objective of First Fiscal Policy and Sustainable Growth Development Policy Financing Deferred Drawdown Option Project for Peru is to support the Government of Peru (GoP) in: (i) strengthening climate change adaptation; and (ii) promoting decarbonized development in selected sectors. The policy program supports Peru’s economic development through CC adaptation and mitigation reforms that are aligned with the goals established in Peru’s PEDN 2050, NDC 2020, and National Climate Change Adaptation Plan. The operation is aligned with the CPF for Peru (FY2023-FY2027) and complements various ongoing projects and Technical Assistance (TA) engagements. The program also supports WBG Corporate Priorities, by promoting gender equality and mobilizing private capital. The DPF program complements activities by the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) to enhance the ecosystem for affordable and green housing provision.