The World Bank plans to fund a range of social and developmental programs in Peru over the next four years, with loans totaling close to $1 billion. World Bank President James Wolfensohn has stated that his organization is committed to aiding Peru in its struggle against poverty and its professed goal of lowering the poverty rate from 54.8% to 27.4% in thirteen years. In order to aid Peru in decentralizing power and empowering the poor, 11 World Bank programs to the tune of $575 million are currently addressing rural development, health and sanitation. The Work Bank claims that it will also aid Peru's indigenous peoples with the establishment of development projects in the Andes. Over the weekend, Wolfensohn met with various indigenous leaders from Peru and neighboring nations, promising to fund projects worth $250 million in the next three years in order to reduce poverty in indigenous communities. Many of the Andean indigenous peoples currently live in extreme poverty, according to Bank estimates, living on less than $2 a day, and they are subjected to widespread discrimination and violence. The World Bank says it plans to train indigenous peoples in the design and management of Bank projects in their regions, earmarking $27 million for such projects.
