IAES started from a Bilateral Covenant between the Governments of El Salvador and the United States of America to pardon approximately $464 million in foreign debt, leaving $150 million to be repaid. The proposal was ratified in 1993, establishing that El Salvador would pay some $41.2 million of the interests on this debt during 20 years, generating an extinguishable fund to finance environmental and childhood survival projects under FIAES management.
Recognizing the work of the Fund, new funds were granted in 2001 to support projects in Tropical Forests for the amount of $14.4 million, to be invested during a period of 25 years. |