|
 |
|
Regrettably, tropical forests are rapidly disappearing. It is estimated that 30 million acres are lost each year. The heavy debt burden of many countries is a contributing factor because they must resort to the exploitation of their natural resources, like timber, to generate revenue to service their external debt.
The Tropical Forest Conservation Act provides opportunities for eligible developing countries to reduce concessional debts owed the United States while generating funds to conserve their forests. The agreement with Botswana marks the 11th debt-for-nature pact concluded under the Bush Administration, following agreements with Belize, Colombia, El Salvador, Guatemala, Jamaica, Panama (2), Paraguay, Peru and the Philippines. These agreements, together with another TFCA agreement concluded with Bangladesh in 2000, will generate over $135 million in the coming years to protect tropical forests in developing countries.
|
|
|
|
|
Sign up For Email Updates
|
© Pete Oxford
ilcp.com
|
|
|
