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Landmark Deal to Protect Rainforests in BelizeThe Nature Conservancy Joins Forces With U.S. Government to Help Reduce Half of Belize's Debt and Conserve 23,000 Acres of Tropical Rainforest HabitatWASHINGTON, D.C.—August 2, 2001—The United States Government, with a significant assist from The Nature Conservancy, today will sign a landmark debt-for-nature swap to reduce approximately one-half of the debt obligation of the Government of Belize to the United States in exchange for the protection of 23,000 acres of vulnerable forest land in Belize's Maya Mountain Marine Corridor, an area 1½ times larger than the island of Manhattan. This area includes 16 miles of pristine Caribbean coastline. At 3:00 p.m. today in the U.S. Treasury Department's Diplomatic Reception Room, Treasury Under Secretary for International Affairs John Taylor and Belize's Ambassador to the U.S. Lisa Shoman are scheduled to sign the debt-for-nature agreement. Under the agreement the U.S. Government will provide approximately $5.5 million authorized under the Tropical Forest Conservation Act (TFCA) for forest conservation in Belize. This money will be used in part by the Belizean conservation group Toledo Institute of Development and Environment (TIDE) to purchase 8,000 acres of vulnerable forestlands and to manage approximately 11,000 acres of forestlands now under control by the Government of Belize. Shortly after the first signing ceremony, Under Secretary Taylor and Steve Cox, The Nature Conservancy's Director of International Programs, will sign a related agreement in which The Nature Conservancy will provide $800,000 to the U.S. Government to help finance the debt-for-nature swap. The Nature Conservancy's total contribution to the debt-for-nature swap is $1.3 million, with $500,000 having been contributed recently to help conserve 4,200 acres of the 23,000 acres being protected. "This is a tremendous accomplishment for the conservation of one of the world's most valuable tropical rainforest ecosystems," said Steve McCormick, President and CEO of The Nature Conservancy. "I'm very proud that the Conservancy could help Belize—a country that works very hard to protect its natural resources—to reduce about one-half of its outstanding debt to the U.S. in exchange for its commitment to invest in additional forest conservation. Significantly, the forests lands being protected are vulnerable to aggressive logging and conversion to citrus farming or shrimp farming in artificial ponds." The Nature Conservancy-U.S. Government agreement marks the first time that a private organization will become a substantial financial partner with the federal government in a sovereign debt-for-nature swap under the TFCA. The TFCA, sponsored by Rep. Rob Portman (R-OH) and Sen. Richard Lugar (R-IN), allows the government to restructure certain debt owed to it by developing countries with significant tropical forests, in return for a commitment by those countries to undertake meaningful forest conservation measures with the assistance of local conservation organizations. "This agreement further demonstrates the important role that the Tropical Forest Conservation Act can play in protecting valuable natural resources," said Rep. Portman. "I applaud the efforts made by the Bush Administration and by The Nature Conservancy in helping to make this important agreement a reality." The combined contributions of the U.S. Government and The Nature Conservancy will enable the outright forgiveness of approximately $1.4 million of Belize's debt to the United States. In return, the Government of Belize will issue $7.2 million in local currency obligations payable to TIDE and the Belizean conservation groups Programme for Belize (PfB), Belize Audubon Society (BAS), as well as a new foundation being developed by the Protected Areas Conservation Trust (PACT). These organizations will establish endowment funds to manage the protected lands. "We are grateful for the trust and support that the people of the United States and our friends with The Nature Conservancy have given to TIDE and the other conservation organizations in Belize," said Wil Maheia, TIDE's Executive Director. "We are quite proud that Belize is considered by many as 'Mother Nature's best kept secret.' This agreement will help ensure that southern Belize's renowned rainforest will continue to host migratory birds and visitors for generations to come." The $1.3 million Nature Conservancy contribution comes from monies raised by the Conservancy's Ohio and Maryland/D.C. Chapters, whose members have for several years supported efforts that help conserve vital wintering habitat in Belize for neo-tropical migratory birds including many colorful warblers, thrushes and orioles that in turn fly north to grace their landscapes each summer. Additional funding was raised from supporters of the Conservancy's innovative Adopt-An-Acre program, which enables interested individuals to directly support tropical forest conservation projects. Lying south of Mexico's Yucatan Peninsula and east of Guatemala, Belize's Maya Mountain Marine Corridor hosts one of the world's richest assemblages of biodiversity; it is home to more than 220 tree species and 350 species of birds. Wildlife that roam the landscape include the jaguar, ocelot, marguay, Baird's tapir, Morelet's crocodile, scarlet macaw and the endangered West Indian manatee. "Our involvement in this historic agreement with Belize shows how constructive partnerships between governments and private organizations can be leveraged at very large scales to accomplish impressive conservation results on the ground," said McCormick. "These agreements will help set the stage for additional use of the TFCA and of resources provided by The Nature Conservancy to conserve vital tropical forests around the world." For More Information:
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