The Operation Of The Enterprise For The Americas Initiative

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ISBN 13 : 9781332273256
Total Pages : 210 pages
Book Rating : 4.2/5 (732 download)

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Download or read book The Operation of the Enterprise for the Americas Initiative written by and published by . This book was released on 2015-08-05 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from The Operation of the Enterprise for the Americas Initiative: Report to Congress, March 1998 This report covers activities under the Enterprise for the Americas Initiative since the last report was released in June, 1996. The report was prepared by the Department of the Treasury, based on submissions from U.S. Agency for International Development (USAID) representatives in each country, in accordance with the recommendations of the National Advisory Council. Members of the Washington-based Enterprise for the Americas Board received draft copies of the report and were offered the opportunity to provide comments and/or supplemental views, which are included in the report. Under the EAI, the U.S. has reduced the foreign assistance (USAID) and food assistance (PL-480) debt of Argentina, Bolivia, Chile, Colombia, El Salvador, Jamaica, and Uruguay by$875 million. Local funds arising from these agreements ranged from $41.6 million for Colombia to $3.1 million for Argentina. One of the novel features of the EAI has been the linkage between debt reduction and the generation of local funds for the environment and child survival. Whereas the U.S. receives dollar payments for the remaining principal amounts after debt reduction, interest streams on the remaining debt are channeled into local currency funds to support environmental and child development programs under Americas Framework Agreements. Several other creditor countries have recently adopted similar debt reduction programs linked to the creation of local currency funds. The EAI has generated a grass roots approach to decisions on project finance, by nurturing local non-governmental organizations (NGOs) and fostering NGO collaboration with the host governments. This is accomplished through the creation of local commissions composed of a majority of local NGO representatives, a representative of the U.S., and representatives of the host government. The commissions govern the use of EAI funds. Oversight of the seven local boards is provided by the Enterprise for the Americas Board (EAB), a private/public board of representatives, and consists of 11 members, five from non-government organizations and six from the U.S. Government. This Board advises the U.S. Government on the framework negotiations, and reviews the composition of the local board as well as the annual operation of the Funds. The Secretary of the Treasury, or his delegated representative, serves as the president of the Board; the Secretary of State, or her delegated representative, serves as the vice-president; and a representative from the Environmental Protection Agency serves as secretary to the Board. The remaining U.S. Government representatives are from the U.S. Agency for International Development (USAID). the Department of Agriculture, and the Inter-American Foundation. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.