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Enterprise for the Americas Initiative (EAI) Program Descriptions
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The “Green Corridor” in Argentina is the largest remaining swath of the highly threatened Atlantic
Forest. |
Argentina
The EAI in Argentina was created by a bilateral debt reduction agreement with the United States in January 1993. This agreement reduced approximately $4 million of debt owed by Argentina to USAID. The interest on the remaining $34 million was projected to provide $3.1 million to the EAI over a 14-year period. Fund operations of the EAI began in September 1995.
Mission Statement of EAI/Argentina: To promote activities designed to preserve, protect, or manage the natural and biological resources of Argentina in an environmentally sound and sustainable manner, while encouraging the improvement of child survival and development in Argentina.
Website: www.medioambiente.gov.ar/fam/default.htm
Bolivia
The EAI in Bolivia was created through a bilateral debt reduction agreement with the United States in August 1991. This agreement reduced approximately $31 million of P.L. 480 debt. Interest on the remaining $7 million debt, together with a voluntary $20 million bond issued by the Government of Bolivia as part of a separate deal that discharged $341 million of USAID loan debt, is projected to provide the EAI Fund with $21.8 million over a 15-year period. Operations of the Fund began in September 1992. The Fundación para la Protección y Uso Sostenible del Medio Ambiente (PUMA Foundation) is the current fund administrator.
Mission Statement of the PUMA Foundation: We exist to change the relationship between human beings and nature, in order to sustain both for mutual benefit.
Website: www.fundacionpuma.org
Chile
A highly successful Americas Fund for Chile existed from 1993 to 2003. In late 2003, the Fund was privatized and changed its name to the Citizens Foundation of the Americas. It now administers the nearly $13.5 million United Nations Global Fund on HIV/AIDS, Malaria and Tuberculosis for Chile.
Colombia
The EAI in Colombia was created through a bilateral debt reduction agreement with the United States, signed in December 1992, which reduced Colombia’s debt obligations to the United States by approximately $31 million. The interest on the remaining $279 million USAID debt obligation is projected to provide the Fund with $41.6 million over a ten-year period. The final payment was made to the Fund by the Government of Colombia on October 4, 2002. Fund operations began in April 1995. In 2000, Fund management was removed from the Colombian umbrella environmental non-governmental organization (NGO), Ecofondo, and a new fund was established, the Fund for Environmental Action (Fondo para la Acción Ambiental – FPAA).
Mission Statement of the Fondo Para la Acción Ambiental (FPAA): FPAA’s mission is to support initiatives of community-based organizations and other non-governmental non-profit organizations in environmental and child survival and development work in accordance the U.S.-Colombia bilateral agreement. Grants should contribute to the sustainable development of the country at the local, regional and national levels.
FPPA Website: www.accionambiental.org
El Salvador
The EAI in El Salvador (FIAES) was one of the first debt for nature funds to be established when the EIA framework agreement was signed in June 1993. Now 10 years later, FIAES is well established as one of the major programs in El Salvador that support local NGOs and Community Development Organizations dedicated to promoting child survival and environmental conservation activities. The agreement reduced approximately $464 million of USAID and P.L. 480 debt, leaving about $150 million to be repaid. Interest on the remaining debt, to be used for environmental conservation and child survival projects, was projected to be about $41.2 million over a 20-year period.
Mission Statement of FIAES: To negotiate and manage financial resources in order to support projects that can contribute to the protection and recovery of natural resources and the environment, through the participation of civil society, in order to improve the well being of the present and future generations of El Salvador.
Website: www.fiaes.com.sv
Jamaica
The Environmental Foundation of Jamaica (EFJ) was created through bilateral debt reduction agreements with the United States signed in August 1991 and January 1993. These agreements reduced USAID and P.L. 480 debt by about $311 million. The interest on the remaining $95 million is projected to provide the Fund with a total of $21.5 million over a 19-year period. Operations of the EFJ began in May 1993.
Mission Statement of the Environmental Foundation of Jamaica (EFJ): The Foundation promotes, supports, and implements activities designed to conserve the natural resources and the environment of Jamaica and to foster the well-being of our children. To this end, the Foundation will give the highest priority to those activities from which benefits are sustainable and/or replicable.
EFJ Website: www.efj.org.jm
Peru
The Americas Fund of Peru (AFP) was founded through a debt buyback agreement with the United States signed in June 1997. The Framework Agreement was subsequently signed in December 1997. Through this agreement, Peru bought back $177 million of its USAID and P.L. 480 debt at a cost of $57 million. As part of the transaction, Peru also agreed to endow a Fund with $22.8 million in local currency. Operations of the AFP began in March 1999.
Mission Statement of the Americas Fund of Peru (AFP): The AFP promotes activities designed to preserve, protect, or manage the natural and biological resources of Peru in an environmentally sustainable manner, while encouraging the improvement of child survival and development in Peru.
AFP Website: www.fondoamericas.org.pe
Uruguay
The Fund of the Americas-Uruguay (FAU) was founded through a bilateral debt reduction agreement with the United States signed in June 1993. This agreement reduced USAID and P.L. 480 debt by approximately $4 million. The interest on the remaining $31 million is projected to provide the Fund with a total of $6.2 million over a 12-year period. Operations of the FAU began in October 1994. Unless additional funding is identified, deposits into the FAU are scheduled to terminate in 2005.
Mission Statement of the Fund of the Americas-Uruguay (FAU): The objectives of Fondo de las Américas - Uruguay (FAU) are to promote activities geared to conservation, protection, or administration of natural and biological resources, and to enhance the development of children and young people in Uruguay.
FAU Website: www.famericas.org.uy
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Tue, 15 Aug 2006 16:16:00 -0500
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