Peru's government will spend $1.06 billion on climate and weather-related measures, a government official said, in an effort to prevent and limit climate change and El Niño, BTA reported, citing Reuters.

El Niño, a Pacific weather phenomenon that affects the weather, is likely to contribute to heavy rainfall and potential flooding expected in Peru starting in April.

Economy Minister Alex Contreras made the announcement during a cabinet meeting with President Dina Bolwarte, highlighting the "significant risks" of climate events that could affect the country's economic condition.

Recent heavy rains and flooding that followed powerful Cyclone Yaku caused more than $300 million in infrastructure damage in the South American country, Contreras said.

The minister said the spending plan would focus on regions where the biggest climate impacts are expected, with disbursements starting in the coming weeks.

Earlier this month, the government agency ENFEN, which studies El Niño, issued a warning for coastal areas due to what it described as an unexpected rise in surface temperatures in the Pacific Ocean.

Peru has suffered major weather-related disasters in recent years, Reuters recalled.

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During the cabinet meeting, Prime Minister Alberto Otarola said the expected warming is likely to continue into July, with above-normal rainfall possible in April and June.

In 2017, El Niño-related weather was responsible for at least 162 deaths, along with severe damage to infrastructure, including roads and bridges, equivalent to 2% of the country's economy, official figures show.