Costa Rica and U.S. sign debt-for-nature deal

$26 million in debt from Costa Rica to the U.S. was forgiven in exchange for tropical forest conservation according to a deal signed by the governments of both countries and two environmental groups. The idea is part of the U.S. Tropical Forest Conversation Act which has helped countries around the world create similar debt forgiveness plans for nearly a decade.

The head of The Nature Conservancy- one of the parties involved in the Costa Rican debt forgiveness deal- praised the agreement:

"Costa Rica is teeming with natural beauty, biodiversity and threatened species," said Stephanie Meeks, The Nature Conservancy's chief executive. "And as an increasingly popular tourist and retirement destination, it faces increasing development pressure."

Sources- earthtimes.org, scoop.co.nz, International Herald Tribune

Image- Pravda