Debt-for-Nature Agreement to Conserve Peru’s Tropical Forests (Video)

Dec 08, 2010

Washington, DC–The Governments of the United States of America and the Republic of Peru have announced an agreement to reduce Peru’s debt payments to the United States by more than $25 million over the next seven years.  In return, the Government of Peru has committed these funds to support grants to protect the country’s tropical forests.

Secretary Paulson welcomed the agreement with the Government of Peru under the U.S. Tropical Forest Conservation Act.  “This agreement will build on the success of previous U.S. Government debt swaps with Peru and will further the cause of environmental conservation in a country with one of the highest levels of biodiversity on the planet.  Such debt-for-nature agreements are a successful model of government and citizen cooperation to improve and expand conservation efforts,” he said.

Peru is one of the most biologically rich countries on earth.  Funds generated by the debt-for-nature program will help Peru protect tropical rain forests of the southwestern Amazon Basin and dry forests of the Central Andes.  These areas are home to dense concentrations of endemic birds such as the Andean Condor and Parakeet; primates including the Peruvian Yellow-tailed Woolly Monkey and Howler Monkey; other mammals such as the Jaguar, Amazonian Manatee, Giant Otter, Spectacled Bear and Amazon River Dolphin; as well as unique plants.  Rivers supplying water to downstream settlements originate in many of these forests, and people living in and around the forests depend on them for their livelihood and survival.

This agreement with Peru was made possible by the innovative Tropical Forest Conservation Act of 1998.  It will complement an existing TFCA debt-for-nature program in Peru dating from 2002, a 1997 debt swap under the Enterprise for the Americas Initiative, and the United States-Peru Trade Promotion Agreement, which includes a number of forest protection provisions.  With this agreement, Peru will be the largest beneficiary under the Tropical Forest Conservation Act, with more than $35 million generated for conservation.

The new Peru agreement marks the 14th Tropical Forest Conservation Act pact, following agreements with Bangladesh, Belize, Botswana, Colombia, Costa Rica, El Salvador, Guatemala, Jamaica, Panama (two agreements), Paraguay and the Philippines, as well as an earlier agreement with Peru.  Over time, these debt-for-nature programs will together generate more than $188 million to protect tropical forests.

Recent Posts

Feb 12, 2024

Joyce, Rouzer, Pallone, Sykes Introduce Bill to Preserve America’s Beaches

WASHINGTON, DC – Today, Representatives Dave Joyce (R-OH-14), David Rouzer (R-NC-07), Frank Pallone (D-NJ-06), and Emilia Sykes (D-OH-13) reintroduced the Beaches Environmental Assessment and Coastal Health (BEACH) Act. The funding provided through this bill helps state and local governments test, monitor, and identify contamination in recreational waters, such as the Great Lakes.  “Every year, Ohio families and tourists […]

Feb 7, 2024

Congressman Joyce Releases Statement on Vote to Impeach Secretary Mayorkas

WASHINGTON D.C. – Today, Congressman Dave Joyce (OH-14) released the following statement on his vote to impeach Department of Homeland Security Secretary Alejandro Mayorkas.  “In February 2021, Secretary Alejandro Mayorkas swore an oath to support and defend the Constitution and pledged to faithfully discharge the duties of his office. The Secretary of Homeland Security has the […]

Feb 6, 2024

Joyce Conservation Bill Passes the House

WASHINGTON, D.C. – Today, Congressman Dave Joyce’s (OH-14) bill, H.R. 5009, the Wildlife Innovation and Longevity Driver Reauthorization (WILD) Act, passed the U.S. House of Representatives. This bipartisan legislation would reauthorize the Partners for Fish and Wildlife Program, which enables wildlife and habitat conservation in all 50 states and territories, and the Multinational Species Conservation Fund, which […]