Debt-for-nature deal for Brazilian forests
Sep 07, 2010. The governments of the US and Brazil signed an agreement that will reduce Brazil’s debt payments to the US by almost $21 million over the next five years. In return Brazil has committed funds to support the protection of the Atlantic rainforest and the Caatinga and Cerrado ecosystems.
Sep 07, 2010. /Lesprom Network/. The governments of the US and Brazil signed an agreement that will reduce Brazil’s debt payments to the US by almost $21 million over the next five years. In return Brazil has committed funds to support the protection of the Atlantic rainforest and the Caatinga and Cerrado ecosystems, ITTO reported.
This is the 16th agreement that the US has signed under its Tropical Conservation Act of 1998. The law offers eligible countries opportunities to reduce a portion of their debt owed to the US while generating funds for tropical conservation activities. The majority of agreements to date include funds leveraged from private donors and NGOs.