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By Philip J. Glaessner

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Annex A includes only those social investment funds that have been in operation for some years or are about to start operations on obtaining financial support from international and bilateral assistance agencies. Most of the social investment funds were set up in conjunction with government stabilization and structural adjustment programs, as reflected by the timing of their formation. Bolivia led the way with the creation of its Emergency Social Fund (FSE) in 1986, less than a year after the start of a comprehensive stabilization and reform program.

In Peru, FONCODES financed some 4,000 community-based projects in 1992, its first year of operations, that generated more than 24,000 jobs per month, most of them in infrastructure projects in the country's poorest communities. About a third of the jobs were created through the credit program for small farmers and businesses, which is funded by FONCODES and administered by NGOs and the savings and loan system. Panama's FES financed 1,200 projects during 199193 that have reportedly generated some 28,000 man-months of temporary employment and 3,000 permanent jobs.

Haiti - Fond d' Assistance Economique et Sociale (Economic and Social Assistance Fund) (FAES) 60 Tables 1: World Bank Loans (L) and IDA Credits (C) to Social Investment Funds in Latin America and the Caribbean 8 2: Percentage of FHIS Funds Allocated by Poverty Level 16 Page v Foreword In the second half of the 1980s, many governments in Latin America and the Caribbean created Social Investment Funds (SIF) to alleviate the negative impact on the poor of the debt crisis and the structural adjustment measures.

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