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Technical assistance on the agreement for debt swap


€ 2,078,600
€ 2,078,601


Italian Agency for Development Cooperation (DGCS until 2015)

Channel reported



The idea of debt-for-development swap starts during the ‘90s and has been strengthened during the Jubilee Debt Campaign. Italy supported it within the IFIs, approving a national law and signing several bilateral agreements. The debt agreement with Peru aims to cancel the debt owed by Peru to Italy for ODA loans, transforming its payment in the creation of a fund based in Peru used to finance poverty reduction projects implemented by NGOs, universities and local governments. The Fondo Italo Peruano – FIP has been created with a first agreement in 2001, then renovated with a second agreement in 2007. FIP managed more than 200 million US dollar, financing around 300 projects. The two governments, with a participation of Peruvian civil society in the Technical Committee, manage FIP jointly. FIP selects projects through public calls for proposal. The projects have to target one or more aspects of multidimensional poverty and have to respect a ‘gender approach’. Italy is committed in the participation to FIP with a specific technical assistance program, to sustain the managing of the Fund. read more close

Year Committed Used
2008 € 538,400 € 538,400
2007 € 472,500 € 472,500
2006 € 399,000 € 399,000
2005 € 333,500 € 333,500
2004 € 335,200 € 335,201

Project data

  • Expected start date 25/06/2002
  • Completion date 30/12/2011
  • CRSID2006000472
  • Purpose Debt for development swap
  • Finance type Aid grant excluding debt reorganisation
  • Flow type ODA Grants
  • Bi/Multilateral Bilateral
  • Free Standing Technical Cooperation