Thursday, October 12, 2006

Debt for Nature

In the largest agreement yet reached under the US Tropical Forest Conservation Act of 1998, the United States has agreed to forgive $24.4 million of Guatemalan debt in order to free up the money for use in forest conservation over the next 15 years.

Nature Conservancy and Conservation International, two international non-profits, have helped put the landmark deal together, and to sweeten it, each also donated $1 million towards local conservation initiatives in four of the big national reserves.

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