Congress Greenlights $380 Million Debt-for-Nature Swaps to Save Tropical Forests and Coral Reefs—Find Out Which Countries Benefit

By: Govind Tekale By: Govind Tekale

In order to preserve important ecosystems, Congress has passed a ground-breaking programme that enables countries to turn their debt into funds for conservation.

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A whopping $380 million is promised under the newly renamed Tropical Forest and Coral Reef Conservation Act to protect biodiversity in 14 different nations.

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27.5 million acres of vital tropical forests are to be preserved thanks to an unprecedented $14 million debt-for-nature exchange between the US and Peru.

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Debt-for-nature swaps have been funding conservation efforts since 1987 and are currently expanding to include marine areas.

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The Nature Conservancy's Jennifer Morris emphasises how the organisation has successfully preserved 68 million acres of forests and coral reefs over the course of 25 years.

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The long-term effects of debt-for-nature swaps on international conservation efforts are emphasised by Dr. M. Sanjayan of Conservation International.

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The 2004 deal that lowered Colombia's debt serves as an example of how innovative finance may assist continuing community conservation efforts.

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WWF's Carter Roberts considers Tom Lovejoy's groundbreaking work, highlighting the debt-for-nature swaps' continuing significance.

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Leveraging decades of expertise, Department of Treasury's Alexia Latortue explores potential methods to improve debt-for-nature swaps.

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