This paper discusses the development and implementation of Juntos ('Together'), a cash transfer programme in Peru aimed at developing human capital and breaking inter-generational transfers of poverty. The paper is based on documentary analysis and fieldwork in Ayachucho Department, the first region in which the pilot phase of the programme was implemented. We selected two communities based on the following criteria: presence of Young Lives sites (given plans to follow up with longitudinal research about the effects of the programme over time), geographical accessibility; size of the population and the number of children enrolled in the programme. The analysis pays particular attention to the impacts of this social protection mechanism on women and children, the strengths and weaknesses of a conditional approach, and changes in family and community dynamics. It concludes by discussing future policy challenges and directions for research.