Going Green Pays
The us has agreed to cancel a portion of Peruvian debt following the government's commitment to conserve and maintain its biodiversity and forest areas.
The visiting us President George Bush recently signed a pact to this effect with Peruvian President Alejandro Toledo. Under the deal, organisations Conservation International, The World Wildlife fund and The Nature Conservancy will contribute us $ 1 million and the us will provide $5.5 million to cancel a portion of Peru's debt. Peru will save over us $14 million in debt payments over the next 16 years. The saving will be used to fund tropical forest conservation activities through local non-governmental organisations.
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