Peru, Ecuador meet goals to develop border zone

LIMA, Peru (AP) -- Peru's foreign minister says Peru and Ecuador have each met a US$1.5 billion investment goal to develop their shared border zone, in compliance with a 1998 peace accord that put to rest a dispute over the region.

Foreign Minister Jose Antonio Belaunde says Peru has spent US$1.6 billion to build roads and develop "small projects that have improved the quality of life of the population." He did not elaborate Friday.

On Sunday, Peru and Ecuador will celebrate the 10-year anniversary of the peace accord. The countries fought three wars in 1941, 1981 and 1995 over the border region.

Peruvian President Alan Garcia and Ecuadorean President Rafael Correa will meet Saturday to commemorate the accord.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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