Canada will spend 4 million more U.S. dollars in the next three years to help promote its mining industry's contribution to Peru's sustainable growth.
According to a bilateral memorandum of understanding signed Friday, Canada agreed to extend the Peruvian-Canadian Cooperation Program (PERCAN) for another three years, to end on Dec. 31, 2011.
Through its Agency for International Development, Canada will increase financial support to Peru's mining industry to 13.6 million U.S. dollars from the 9.6 million dollars originally agreed under PERCAN.
The extension of the program will strengthen Peru's efforts to make its mining industry environment-friendly, thus contributing to the country's sustainable growth.
"As for environmental issues, we have brought the regulations closer to meeting international standards," said Felipe Isasi, Peru's vice minister of mining.
Source: Xinhua
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