LIMA, PERU - (October 1, 2003) The U.S. Trade and Development Agency (USTDA) awarded a $300,000 grant to the Ministerio de Transportes y Comunicaciones (MTC) in Peru to fund a study on the development of a new container terminal project at the Port of Callao. The grant was conferred in a signing ceremony at the U.S. Embassy in Lima on September 25, 2003. Mr. John P. Caulfield, Charge d' Affaires of the U.S. Embassy in Lima, signed the agreement on behalf of the U.S. Government. His Excellency Eduardo Iriarte Jimenez, Minister of the MTC, signed on behalf of the Government of Peru.

The Port of Callao plays a major role in the economy of Peru. It serves as the principal port in the country, and is one of the largest ports on the Pacific coast of Latin America. Currently, the volume of goods that pass through the port greatly exceeds the designed capacity. Moreover, the absence of complete and modern container facilities is adversely impacting the efficiency and competitiveness of the port. Recently, the Peruvian government drafted laws and regulations related to privatization that are designed to help bring the port up to international standards and attract external sources of financing.

The USTDA grant will fund a feasibility study that will re-evaluate an outdated Master Plan, allowing MTC to validate the usefulness of previous results and move forward with the construction of a new container terminal. The feasibility study will also include recommendations for integrating future development projects with the new container terminal.

The U.S. Trade and Development Agency advances economic development and U.S. commercial interests in developing and middle-income countries. The agency funds various forms of technical assistance, feasibility studies, training, orientation visits and business workshops that support the development of a modern infrastructure and a fair and open trading environment. USTDA's strategic use of foreign assistance funds to support sound investment policy and decision-making in host countries creates an enabling environment for trade, investment and sustainable economic development. In carrying out its mission, USTDA gives emphasis to economic sectors that may benefit from U.S. exports of goods and services.

Back to Press Releases