| Media Note Office of the Spokesman Washington, DC June 18, 2007 State Department Releases Annual Report on Two Debt Reduction ProgramsOn Friday, the U.S. Department of State submitted the 2006 Annual Report to Congress on two debt reduction programs expected to generate $400 million to help developing countries protect the environment and ensure the development of their children. The programs are the Tropical Forest Conservation Act of 1998 and the Enterprise for the Americas Initiative launched by former President Bush in 1991. Since 2000, Congress has appropriated funds for the Tropical Forest Conservation Act enabling eligible countries to re-direct a portion of their debt payments to the United States Government to generate funds locally to protect important tropical forests. To date, 11 countries in Africa, Asia and Latin America have entered into debt-for-nature agreements with the United States. These agreements will generate a total of $137 million to protect forests in the tropics. The Nature Conservancy, Conservation International and the World Wildlife Fund have contributed $9.6 million to these debt-for-nature agreements. The 11 countries which entered into debt-for-nature agreements with the The United States also has debt reduction programs with eight eligible countries in Latin America and the Caribbean under the Enterprise for the Americas Initiative. These programs have generated $165 million in grants to non-governmental organizations supporting environmental activities and child survival and development programs in Argentina, Bolivia, Chile, Colombia, El Salvador Jamaica, Peru and Uruguay. Although Congress no longer appropriates funds for the Initiative, a total of $100 million remains available in existing local programs. For further information on the Tropical Forest Conservation Act and the Enterprise for the Americas Initiative, see www.usaid.gov/our_work/environment/forestry/tfca.html. |
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