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Tuesday, March 26

Lycos / Environmental News Service Peru Trades Debt for Forest Conservation: "Under the agreement, Conservation International, The Nature Conservancy, and World Wildlife Fund will contribute $1.1 million and the United States will provide $5.5 million to cancel a portion of Peru's debt to the United States. In return, the government of Peru will issue local currency obligations in which the payment streams will go to fund tropical forest conservation activities through local nongovernmental organizations in Peru. As a result of the agreement, Peru will save over $14 million in debt payments over the next 16 years." Peru follows in the footsteps of Bangladesh, Belize, El Salvador, and Thailand, which already have agreements of this kind.

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