“These administrative steps are where asset recovery really happens… when dirty assets are transformed into resources that support law enforcement and serve the public good.”

With these words, Oscar Solórzano, Head of Latin America at the Basel Institute on Governance, captured the often unseen but transformative impact of asset recovery. 

His remark follows a high-level meeting in Peru marking the final phase of a pioneering international agreement.

On 26 March 2026, the Ministry of Justice and Human Rights of Peru hosted the Meeting of the States Parties to the Tripartite Agreement between Peru, Switzerland and Luxembourg on the transfer of confiscated assets. 

Opened by Minister Luis Enrique Jiménez Borra, the meeting brought together key Peruvian institutions alongside representatives of the Swiss authorities to review progress, assess institutional impact and discuss the next steps towards closure.

From frozen assets to public benefit

Through this cooperation, assets derived from corruption cases and previously frozen abroad have been returned to Peru and reinvested in strengthening the justice system. 

Projects funded under the agreement have enhanced the capacity to investigate and prosecute corruption and organised crime, improved coordination between institutions and strengthened mechanisms for asset recovery and asset management.

The National Program for Seized Assets (PRONABI) has overseen the transparent and accountable administration of these funds, ensuring they directly support institutions at the forefront of combating corruption.

Highlighting the broader significance of the initiative, Minister Jiménez Borra stated:

“International cooperation can turn assets derived from corruption into concrete tools for strengthening justice and public integrity. The Tripartite Agreement shows how recovered assets can be reinvested to benefit citizens and strengthen the rule of law.”

Strong international partnership and Swiss engagement

Peru’s tripartite collaboration with Switzerland and Luxembourg has provided a strong framework for cooperation. It demonstrates how countries can work together to return illicit assets in a transparent and impactful way. 

The Basel Institute on Governance, through its International Centre for Asset Recovery (ICAR), has played a central role in supporting implementation by providing technical advice and accompanying institutions throughout the process. 

Paul Garnier, Ambassador of Switzerland to Peru, noted: 

“This meeting provides an important opportunity to review the current status of the project and the progress achieved so far. Switzerland also values the continued technical support provided by the Basel Institute on Governance throughout the implementation of this initiative.” 

During the technical session, Oscar Solórzano and Límberg Chero, a senior member of the Basel Institute’s Public Finance Management programme in Peru, shared reflections on the implementation, impact and sustainability of the projects.

Celso Alfredo Saavedra Sobrados, Executive Coordinator of PRONABI, emphasise that:

“PRONABI has worked to ensure that the restituted funds are administered with transparency, efficiency and accountability, so that they directly contribute to strengthening the institutions responsible for combating corruption.”

He also highlighted the close and timely technical support provided by the Basel Institute on Governance during the implementation of the project.

Setting a regional example for asset recovery

The experience demonstrates how sustained international cooperation, combined with targeted technical support, can ensure that recovered assets deliver tangible benefits for citizens and reinforce the rule of law.

It also offers a compelling example for other jurisdictions, showing that asset return can be both practical and impactful when underpinned by trust, transparency and shared objectives. 

The hope is that this model will inspire further mutually beneficial efforts to return stolen assets and put them to work for the public good.