A sum of money accrued in a local currency arising from goods or services received from abroad.
Example sentencesExamples
- France and Italy used their counterpart funds to combat inflation and enforce budgetary restraint.
- All of the aid counterpart funds were available from the start of the year and any delays in aid projects were not due to lack of funding.
- The money from these sales, called counterpart funds, remained in the local currency in a special account.
- As much as 60 per cent of the ERP counterpart funds were used for industry and infrastructures, while agriculture only received 29 per cent.
- They have put together one million US dollars in counterpart funds and are waiting for donors to contribute the remaining US $5 million that the studies will require.