Peru-Spain Fund
The Peru-Spain Fund was created in 2006 to convert Perus debt to Spain into investments in Perus education sector. Over 11 years, it financed projects aimed at improving teaching quality in high-poverty regions of Peru, including Amazonas, Huancavelica, Apur¨ªmac, Ayacucho, Puno, San Mart¨ªn, Hu¨¢nuco, and marginal urban areas of Lima. The program focused on pedagogical projects to enhance teaching quality as well as infrastructure projects to reconstruct and improve educational facilities. A total investment of 87,645,326 soles (about USD 27 million) was made into 47 successfully executed projects, benefiting 2,300 educational institutions and 174,183 people in Peru. The initiatives were developed and managed by a bilateral committee with representatives from both Spain and Peru to ensure alignment with Perus educational priorities and Spanish cooperation strategies.
Pros
Provided significant funding for education projects in high-poverty regions of Peru
Aligned with Perus educational priorities through joint management
Benefited a large number of schools and students
Addressed both pedagogical and infrastructure needs
Cons
Limited in scale compared to Peru's overall education needs
Potential challenges in sustaining initiatives after program conclusion
Partners
Government of Spain
Government of Peru