Grants awarded for environmental protection
June 20, 2007

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On June 19, Ambassador Charles L. Glazer, along with Salvadoran President Elias Antonio Saca, participated in a ceremony  for the issuance of 63 grants that will provide over $3 million of vital development assistance to local communities and organizations.  The grants are being channeled through the El Salvador Fund for the Americas Initiative (FIAES)

FIAES was one of the first debt-for-nature swap funds established in Latin America.  Under a 1993 bilateral agreement, the government of the United States forgave approximately $464 million of El Salvador’s bilateral debt. 

The interest from the  portion of the debt that was not forgiven was used to finance community-led environmental and child survival projects under the administration of FIAES.  Later, FIAES received additional resources from the U.S. government to support tropical forest conservation projects. 

“Today FIAES is considered the best fund within the Americas Initiative and one of the most successful environmental funds in the Americas overall,” said Ambassador Glazer. “I congratulate the government of El Salvador for its success in meeting the terms of the FIAES agreement and for working to achieve these very significant results and I am proud that the United States is a partner in these worthwhile endeavors,” he added.

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