After half a century of turbulence, it seems like Colombia might finally get some much-needed reprieve. As the country steps forward in a momentous peace deal with FARC rebels, the Latin American nation would also get some aid from The United States of America, according to The Miami Herald.

In an announcement on Tuesday, U.S. President Barack Obama stated that he has requested about $450.6 million for the fiscal year 2017 in order to provide funds for Colombia's ongoing battle against the distribution and production of narcotics in the country. The funds would also be utilized in a number of peace-building efforts.

Dubbed Paz Colombia, or Peace Colombia, the Obama administration's project stands as the spiritual successor to Plan Colombia, a $10 billion program enacted by the United States in 1999 under the Clinton administration. Designed to fight against insurgency and the drug trade in the country, Plan Colombia was eventually continued by Clinton's Republican successor, George W. Bush, reported Solo News.

Though costly and even controversial at some point, Plan Colombia did accomplish a number of things. For one, it is credited with helping the country, which was tainted by extrajudicial killings and human rights abuses, stabilize. Apart from this, Plan Colombia was also the responsible for crippling Marxist rebels in the state, and saving the country from becoming a failed state overall. Through the years, however, it proved quite ineffective to curb the drug trade in the country.

The deal was finalized during Colombian President Juan Manuel Santos during his recent visit to the White House. With his administration successfully reaching a significant step towards a genuine peace with the Revolutionary Armed Forces of Colombia, or FARC, the Colombian president was able to assure the commitment of his American counterpart, reported FOX News Latino.

Considering that Colombia would have a significant amount of restructuring that would need to be done, Obama has promised Santos that the United States "will be your partner in waging peace."

The U.S. President even praised the efforts of Santos' government, specifically the peace deal that it has reached with FARC rebels, which, it could be said, would be the first real step towards peace in a number of years.

"In short, a country that was on the brink of collapse is now on the brink of peace. In Colombia today, there is hope," Obama said.

The United States' promise of aid comes at a very pertinent time for the Latin American state. After all, 50 years of insurgency has cost the country dearly, and it would take quite a lot of effort to get it back on its feet.