Historic U.S.-Peru debt-for-nature swap

Washington, D.C., June 26, 2002 With a commitment of $1.1 million from Conservation International, The Nature Conservancy and the World Wildlife Fund, the U.S. and Peruvian governments today signed an historic agreement to protect some of the most biologically rich tropical rain forests on Earth. This is the first time three leading conservation groups have joined forces with the U.S. government to advance a debt-for-nature swap.

Peru's Ambassador to the United States, Allan Wagner, and Treasury Department Under Secretary for International Affairs, John B. Taylor, signed the agreement this morning during a ceremony at the U.S. Treasury Department. A debt-for-nature swap relieves a government's foreign debt burden in exchange for its commitment to spend a certain amount of their local currency for conservation work. The Peruvian debt swap will generate funds for distribution to local Peruvian conservation groups engaged in a wide variety of conservation activities. This will greatly increase the ability of these groups to conserve ten tropical rain forest areas covering more than 27.5 million acresabout the size of Virginiaand containing some of the richest, yet most threatened biodiversity on Earth, including rare pink river dolphins, jaguars, scarlet macaws, walking palms and giant water lilies.

Under the agreement, Conservation International, The Nature Conservancy and the World Wildlife Fund each committed approximately $370,000 for a total of $1.1 million. The U.S. government allocated $5.5 million to cancel a portion of Peru's debt to the United States. The federal funding is authorized by the Tropical Forest Conservation Act of 1998, which encouraged the reduction of foreign debt in exchange for a financial commitment to forest conservation.

As a result, Peru will save about $14 million in debt payments over the next 16 years, and will provide the local currency equivalent of approximately $10.6 million toward conservation over t

Contact: Brad Phillips
Conservation International

Page: 1 2 3

Related biology news :

1. Historical coral reef declines featured in this weeks Science
2. Radical discovery dedicated a National Historic Chemical Landmark
3. Historical information available on Taq polymerase findings at the University of Cincinnati
4. Historically black and research-intensive universities partner under grants aimed at broadening U.S. science base

Post Your Comments:

(Date:1/20/2019)... ... ... January has been a record-breaking month so far for Lajollacooks4u, San Diego’s premiere ... several of its signature cooking classes and team-building events, but it is also gearing ... , Since 2008, Lajollacooks4u’s team-building events have been a favorite for companies of all ...
(Date:1/20/2019)... , ... January 18, 2019 , ... Boston-based Laboratory as ... in an effort to better express its continued expansion and service offerings for ... for a new kind of lab: one that is more agile and adaptable than ...
(Date:1/14/2019)... ... January 14, 2019 , ... Join the ... GMT) to hear about key topics in data quality, including:, ...     Patient engagement ,     Smartphone and wearable based performance measures , ...
Breaking Biology News(10 mins):
(Date:1/20/2019)... ... January 17, 2019 , ... Consumers are directing healthcare in ... physicians. That's changing as many services now exist for patients to order tests ... totaled $208 million in 2018, according to Kalorama Information’s new report, The ...
(Date:1/20/2019)... ... January 17, 2019 , ... TrakCel, the leading ... The Quick Life Science Group (Quick Healthcare and QuickSTAT) today announce a partnership ... global cell and gene therapy industry to track products and manage the logistical ...
(Date:1/11/2019)... ... January 11, 2019 , ... ... for the automated collection of donor blood. This advanced and intuitive medical ... The unit incorporates the functionality needed for the busiest donor stations with new-to-the ...
(Date:1/10/2019)... ... January 08, 2019 , ... ... announced today that SAGICO will be represented at the 37th Annual J.P. ... Healthcare Conference is the largest and most informative healthcare investment symposium in ...
Breaking Biology Technology:
Cached News: