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Money doesn’t grow on trees. Unless those trees happen to be in Costa Rica—in which case there’s about $26 million dollars growing in its tropical forests.
As part of the debt-for-nature swap, the United States Treasury forgave $26 million of Costa Rica’s debt, money which will now be directed toward the protection of more than 1,000 acres of tropical forest. This deal, brokered by The Nature Conservancy, is the largest debt-for-nature swap under the Tropical Forest Conservation Act. It secures long-term, science-based funding for Costa Rica’s tropical forests.
Some of the tropical forests that will benefit from the deal fall within Costa Rica’s La Amistad region. La Amistad contains the largest untouched tract of rainforest in Costa Rica and is home to more than 350 species of birds. At least a third of those bird species are migrants from North America—so preserving their winter home also helps preserve biodiversity in the United States. La Amistad contains 90 percent of known plants in Costa Rica, a third of which are found nowhere else in the world.
It’s not just about saving plants and wildlife: Costa Rica’s largest population of indigenous people live in and near La Amistad, and the watersheds there provide important freshwater sources for nearby communities. Areas like this are at risk from unregulated development and logging, both of which could have devastating effects on these ecologically rich regions.
What The Nature Conservancy is doing.
Since 1998, The Nature Conservancy has facilitated eight debt-for-nature swaps, contributing some $8 million. This money has resulted in $116 million for conservation in Jamaica, Panama, Peru, Guatemala, Belize, Colombia, and now Costa Rica. Debt-for-nature swaps sustain long-term conservation efforts in countries with rich tropical forests.
Action starts when people talk
Debt-for-nature swaps show how we can start to reverse trends that burden our natural resources, like unregulated development, tourism and logging. First, start a conversation about the issue with friends, family and colleagues. Take a look at our Conversation Starters for relevant and compelling facts. And, learn more about our work by visiting related projects on the Conservancy’s web site, nature.org.
