On September 11, 2023, significant agreements were reached between the United States of America, the Republic of Peru, and four non-governmental organizations under the Tropical Forest and Coral Reef Conservation Act. These agreements aim to reduce Peru's debt payments to the United States by over $20 million over the next 13 years. Instead of making these payments, the Government of Peru will allocate funds to a conservation program dedicated to protecting and revitalizing the country's tropical forests. Local non-governmental organizations will utilize these grants to support initiatives that benefit the Peruvian Amazon and its inhabitants.
To make this debt restructuring possible, the U.S. Government has contributed $15 million under the TFCCA, and four international non-governmental organizations have collectively donated $3 million. The grants provided through the TFCCA initiative will support activities such as the preservation of protected areas, the improvement of natural resource management, and the sustainable well-being of forest-dependent communities. This is the third debt-for-nature exchange between the United States and Peru, with previous agreements in 2002 and 2008 generating a total of approximately $36 million. These funds have been utilized for the restoration, conservation, management, and sustainable use of tropical forests.
The Peruvian Trust Fund for National Parks and Protected Areas (Profonanpe) will serve as the initial grants administrator in this 2023 forest conservation agreement. Profonanpe is a national institution with nearly three decades of experience in conceiving, developing, and executing environmental projects, as well as managing funds. It is also the only Peruvian entity accredited to undertake projects endorsed by the Adaptation Fund and the Green Climate Fund. For more information about Profonanpe, please refer to their website. The agreement with Peru represents the 22nd TFCCA arrangement, joining similar agreements with other countries.
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- According to a press release, the United States of America, the Republic of Peru, and four non-governmental organizations have concluded agreements under the Tropical Forest and Coral Reef Conservation Act. These agreements, announced on September 11, 2023, will trim Peru's debt payments to the United States Government by a sum exceeding $20 million within the upcoming 13 years. In lieu of these payments, the Government of Peru will channel funds into a conservation program aimed at safeguarding and rejuvenating the nation's tropical forests, with local NGOs utilizing these grants to bolster initiatives benefiting the Peruvian Amazon and its inhabitants.
- This debt restructuring is made feasible through a $15 million contribution from the U.S. Government under the TFCCA, along with a collective donation of $3 million from four international non-governmental organizations. The grants provided through the TFCCA initiative will facilitate activities like the preservation of protected areas, enhancement of natural resource management, and support for the sustainable well-being of communities dependent on forests. This marks the third debt-for-nature exchange between the United States and Peru, with previous swaps occurring in 2002 and 2008, generating approximately $36 million in total. These funds have been channeled into the restoration, conservation, management, and sustainable utilization of tropical forests.
- In this 2023 forest conservation agreement, the initial grants administrator is the Peruvian Trust Fund for National Parks and Protected Areas (Profonanpe), a national institution boasting nearly three decades of experience. Profonanpe specializes in conceiving, developing, and executing environmental projects, as well as managing funds. Additionally, it holds exclusive accreditation among Peruvian national entities to undertake projects endorsed by the Adaptation Fund and the Green Climate Fund. For more information regarding Profonanpe, refer to their website. This agreement with Peru represents the 22nd TFCCA arrangement, joining similar agreements with countries.
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