Agreement between the Government of the United States of America and the Government of Bolivia concerning the establishment of an enterprise for the Americas Environmental Account at the National Fund for the Environment

The purpose of this Agreement is to carry into effect a new obligation with respect to debt owed by the Government of Bolivia to the Government of the United States. This obligation of Bolivia consist in the establishment of an account called "Enterprise for the Americas Environmental Account" and its administrative council at the National Fund for Environment of Bolivia (art. I). Subject to Article IV of the Debt Reduction Agreement, which outlines the new obligation, Bolivia shall ensure that the entire amount of interest owed on the new obligation shall be credited to the Account and deposited in local currency in an Operating Account at the Central Bank of Bolivia in accordance with the agreed payment schedule. The National fund for the Environment shall employ an investment agent who shall establish an investment account (art. II). Article III provides for the establishment and composition of the Council, and article IV for its functions. Article V outlines the functions of the National Fund of the Environment. Article VI lists the activities which may be funded under this Agreement. Remaining articles provide for disbursements of funds, consultation and review, termination, and entry into force. (11 articles)