Final evaluation of the projects according to the Finnish-Peruvian Debt Swap Agreement
The Governments of Finland and Peru agreed on 14.3.1996 on the Conversion of Concessionary Credits. Finland would write off 75 % of the owed amount if Peru placed the remianing 25 % on a bank account to be spent in activities benefitting the biodiversity and local population of the Historic Sanctuary of Machu Picchu. The so called Machu Picchu project began in 1997 and the impelementation was continued various times before the finalization of the project in March 2003. The closing balance of the projett owas divided into two funds: 1) main fund called portafolio Extinguible and to 2) a future endowment fund called Portafolio Patrimonial. The administration of both funds was given to the Peruvian Trust for natural Protected Areas (Fondo Nacional para Àreas Naturales Protegidas por el Estado - PROFONANPE). in 2006, according to the 2nd Amendment of the deblt swap agreement, the remaining balance of the Machu Picchu Programme was allocated to a nowe programem which consisted of three separate projects to be implemented in other natural areas: 1) Conservation and Sustainable Development of the Noroeste Biosphere Reserve (RBNO), 2) Sustainable Development in the Local Communities & Conservation of the Biological Diversity in the Nanay-Pucacuro Biological Corridor (Western Peruvian Amazon), and to 3) Learn by Walking - Study of Alternatives in the Integrated Management & Implementation of Sustainable Use oon the Huancabamba - Caxas (Piura) Stretch of the Great Inca Route & Surrounding areas. The implementation of all these projects ended in 2011 and in 2012 the administrator PROFONAMPE left its last report on the programme's closing activities: final reports and external auditing reports. According to the debt swap agreement the remaining balance and annual endowment will be transferred to Peru to be used withing the Peruvian System of Protected Areas after Finland has conducted the final evaluation of the previous mentioned projects.
Objectives monitored by OECD's Development Assistance Committee
Field of activity
- Bio-diversity 100%
Code for the object of funding