Peru and France are to conclude an agreement to provide Peru with an astronomical observatory equipped with a 60-cm diameter telescope. The principal aims of this project are to establish and develop research and teaching in astronomy. Since 2004, a team of researchers from Paris Observatory has been working with the University of Cusco (UNSAAC) on the educational, technical and financial aspects of implementing this venture. During an international astronomy conference in Cusco in July 2009, the foundation stone of the future Peruvian Observatory was laid at the top of Pachatusan Mountain. UNSAAC, represented by its Rector, together with the town of Oropesa and the Cusco regional authority, undertook to make the sum of 300,000€ available to the project. An agreement between Paris Observatory and UNSAAC now enables Peruvian students to study astronomy through online teaching.