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U.S.-Peru Debt Agreement Under the Tropical Forest Conservation Act. President Bush and President Toledo have committed to a debt-for-nature agreement. Peru will save over $14 million in dollar debt payments over the next 16 years, and will provide the local currency equivalent of $10.6 million toward conservation activities over the next 12 years. Conservation International, The Nature Conservancy, and World Wildlife Fund will contribute $1.1 million to this project. Eventually, for every $1 in U.S. funds, almost $2 will be spent on conservation activities in Peru.

E-Business Fellowship for Andean Region. President Bush has directed the U.S. Department of Commerce and the U.S. Trade and Development Agency to develop a 2002 Inter-American E-Business Fellowship Program, with focus on the Andean region. Twenty Fellows will be offered the opportunity to participate in this program, which will begin in September, and will receive hands-on training in the use of information technologies to improve efficiency and productivity.

Support for Democracy. The U.S. has provided $10.5 million to support democratic reform in Peru, and will provide an additional $50 million over the next five years. The U.S. will provide $3.5 million in support to Peru’s Truth and Reconciliation Commission in investigating past human rights abuses and will continue to respond to requests for document declassification. The U.S. is also exploring ways to support Peru’s “National Dialogue” on institutional, economic, and social reforms.

Counterdrug Cooperation. President Bush and President Toledo reaffirmed their mutual commitment to combating drug production and trafficking. The United States will provide $75 million in law enforcement, interdiction, and eradication operations in FY 2002, and $77.5 million for alternative development.

Protection of Cultural Patrimony. President Bush and Peruvian President Toledo have committed to a five-year renewal of an agreement to combat the trafficking in cultural artifacts from Peru. U.S. assistance under the current agreement has enabled the return of almost 300 valuable artifacts.

Food Assistance to Peru. The Bush Administration will provide $45 million of food assistance to Peru in fiscal year 2002 under the PL-480 Program. This assistance will help improve the nutrition levels of young children, increase the availability of and access to food for families in extreme poverty in the rural highlands, and increase the income of food-insecure Peruvians by expanding the outreach of micro-finance services.

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