WE ARE NO DEBTORS! WE ARE CREDITORS OF A HISTORICAL, SOCIAL AND ECOLOGICAL DEBT!
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INDONESIA - US cuts Indonesia debt in exchange for forest |
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Wednesday, 15 July 2009 |
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http://www.alertnet.org/thenews/newsdesk/JAK451375.htm
Indonesia, U.S. in debt payment deal on forests
30 Jun 2009 11:25:45 GMT
Source: Reuters
JAKARTA, June 30 (Reuters) - The United States and Indonesia have
signed an agreement to cut Indonesia's debt payments by around $30
million in exchange for saving forests on Sumatra island, the U.S.
embassy in Jakarta said on Tuesday.
Indonesia has rich bio-diversity and is home to endangered species
such as orangutans and Sumatran tigers, but it also has one of the
highest deforestation rates in the world, mainly due to land
clearance for farming and plantations.
The rapid rate of deforestation has also helped make Indonesia one of
world's top emitters of greenhouse gases.
Under the scheme, Indonesia will place debt repayments into a trust
over eight years instead of repaying the U.S. government, the U.S.
embassy said in a statement.
The trust will then issue grants for restoration and protection
efforts covering about 7.4 million hectares (18.29 million acres) of
forest in Sumatra, including the Way Kambas National Park which is
known for its elephants' sanctuary.
The U.S.-based Conservation International and the Indonesian
Biodiversity Foundation (KEHATI) are also involved in the project and
will donate $2 million, the embassy said.
The Indonesian scheme is the largest of its kind under the U.S.
Tropical Forest Conservation Act.
Washington has struck similar deals with countries such as
Bangladesh, Colombia, Panama and the Philippines.
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