Guatemala debt for nature swap to preserve forests.

18/11/2006 00:00:00 October 2006, The Nature Conservancy and Conservation International (CI) have announced that they have joined the US and Guatemalan government in a debt-for-nature swap that will provide more than $24 million to protect critically threatened forests in the Central American country. The U.S. Government gave about $15M toward the cancellation of part of Guatemala’s debt, while CI and The Nature Conservancy each contributed a further $1 million. This is the biggest ever debt-for-nature swap under the TFCA, which authorizes agreements to help partner countries generate local economic activity and build capacity for protecting tropical forests.

'This is how modern conservation works, with partnerships involving all stakeholders to protect crucial ecosystems that sustain life on Earth,' said Peter Seligmann, the CI chairman and CEO. 'We are proud to help the Guatemalan people conserve tropical forests essential to their well-being and the overall health of the planet.' Steve McCormick, president and CEO of The Nature Conservancy, called the scope of the deal astonishing.

This funding will assist with the conservation of some of Guatemala’s most important natural habitats, from high altitude cloud forests, tropical and sub-tropical rain forests, dry forests and coastal mangroves, all of which are home to hundreds of rare and endangered species, including the resplendent quetzal bird, jaguars and margays. These areas are also of vital importance for local and national economic development in terms of water production, forestry and tourism.

Other countries that have enjoyed debt-for-nature swaps under the TFCA include Panama, Jamaica, Colombia, and Peru. The contributions of non-governmental organizations to debt-for nature swaps total over $9 million. A total of 11 TFCA agreements have been signed which will generate more than $125 million over 10-25 years to protect tropical forests.

Click on the link to see more about the work of Conservation International and The Nature Conservancy.