ESF

FY 1992 Economic Support Fund program to provide balance of payments assistance in support of the Government of Bolivia's (GOB) economic stabilization and reactivation efforts. The program consists of a cash transfer of $66 million, to be disbursed in three equal tranches, for use in servicing external debt with the U.S. Government and other donors. The disbursement of funds will be conditioned upon the GOB's (1) progress in its campaign against illegal cocaine production and trafficking, including its program of involuntary coca eradication and enforcement of its 7/29/91 "Voluntary Surrender Decree", and (2) continued compliance with a comprehensive economic stabilization program, including adherence to a market-based exchange rate regime and an economic policy conducive to economic growth. Coca eradication targets for three tranches are 1,200 ha, 4,200 ha, and up to 6,400 ha, respectively. In addition, the GOB covenants to pursue public sector reforms (including privatization of state-owned enterprises), alternative development, and anti-terrorism efforts. The GOB will also provide up to $50 million in local currency to help finance USAID and multilateral development projects,

Source: DEC abstract, PD-ABE-747 (1992). The source's own text.