Agreement between the Government of the United States of America and the Government of the Republic of Chile concerning the establishment of an enterprise for the Americas Environmental Fund and Environmental Board.

The purpose of this Agreement is to provide for the establishment of a of an Enterprise for the Americas Environmental Fund and an Enterprise for the Americas Environmental Board in accordance with laws of Chile which shall promote and activities designed to preserve, protect or manage the natural and biological resources of Chile in an environmentally sound and sustainable manner (art. I). The Fund shall be managed by the Environmental Board established pursuant to art. III. The Fund be financed by the Government of Chile in accordance with provisions of article II and under a "debt reduction agreement" which allows Chile to reduce its foreign currency debt versus the United States by financing in local currency this nature conservation initiative (art. II). The Fund shall act as a source of finance for eligible projects defined under article V. (10 articles)