Enterprise For The Americas Initiative (EAI)

DEFINITION of Enterprise For The Americas Initiative (EAI)

A program to help hemispheric trade uncovered by U.S. President George H. W. Bush on June 27, 1990. The primary objectives of the program were to lay out a free-trade zone extending across North and South America, grow investment and give debt relief to Latin American and Caribbean countries.

Figuring out Enterprise For The Americas Initiative (EAI)

The EAI had three parts:

1. The negotiation of a number of expected free-trade agreements, of which the North American Free Trade Agreement (NAFTA) was the first.
2. A loan program and a proposed five-year US$1.5 billion multilateral investment fund to be administered by the Inter-American Development Bank.
3. A program of conditional authority debt relief, with interest payments on the paid off past commitments to be paid in neighborhood currency and used to finance environmental tasks in Latin America and the Caribbean.