The correct answer is option 'C' - North Atlantic Treaty Organisation (NATO).

Explanation:
The Partnership for Peace (PfP) is a program initiated by the North Atlantic Treaty Organisation (NATO) in 1994. It aims to create a cooperative framework between NATO and non-NATO countries in order to promote peace, stability, and security in Europe.

The Partnership for Peace program was launched in the aftermath of the end of the Cold War and the dissolution of the Soviet Union. It was a response to the changing security environment in Europe and the need for new security arrangements to address emerging threats and challenges.

Objectives of Partnership for Peace:
The main objectives of the Partnership for Peace program are as follows:

1. Enhancing military cooperation: The program seeks to promote military cooperation and interoperability between NATO and partner countries. This is done through joint military exercises, training programs, and exchange of information and expertise.

2. Promoting democratic values: The PfP program aims to promote democratic values, respect for human rights, and the rule of law among partner countries. It encourages political dialogue, democratic reforms, and the development of civil society.

3. Contributing to peacekeeping operations: Partner countries are encouraged to contribute to international peacekeeping operations under the auspices of the United Nations or regional organizations. This includes providing troops, equipment, and logistical support.

4. Fostering regional cooperation: The Partnership for Peace program aims to foster regional cooperation and confidence-building measures among partner countries. This is done through regular consultations, joint planning, and coordination of military activities.

Benefits of Partnership for Peace:
Participating in the Partnership for Peace program offers several benefits for partner countries:

1. Enhanced security: Partner countries benefit from increased security cooperation with NATO and other partners, which can help address common security challenges and threats.

2. Access to expertise and resources: Partner countries have access to NATO's expertise, training programs, and resources, which can help enhance their military capabilities and interoperability with NATO forces.

3. Political dialogue and cooperation: The PfP program provides a platform for regular political dialogue and cooperation between NATO and partner countries. This can help build trust, promote understanding, and address common political and security concerns.

4. Integration into Euro-Atlantic structures: Participation in the PfP program is seen as a stepping stone towards eventual membership in NATO or other Euro-Atlantic structures. It allows partner countries to gradually align their defense and security policies with NATO standards.

In conclusion, the Partnership for Peace program was initiated by NATO to promote cooperation and security in Europe. It offers partner countries the opportunity to enhance their military capabilities, participate in peacekeeping operations, and engage in political dialogue and cooperation with NATO and other partners.