What area relies heavily on debt for nature swap?

Measured by either the face value of the debt or by the amount of funds to the conservation organizations, Costa Rica, Ecuador, the Philippines, and Madagascar, have been the countries most heavily involved (Deacon and Murphy, 1997). 1.

What is the debt for nature program?

The Debt for Nature Program (DFN), also known as the Debt Cancellation Conservation Contract Program, is a unique program for eligible landowners that protects important natural resources and other sensitive areas while providing a debt management tool.

What is the importance of debt for nature swap?

Debt-for-nature swaps (DNS) can mobilize resources for protecting nature while reducing the debt burden of developing countries. In exchange for debt forgiveness, the debtor-government commits to invest the accrued savings in conservation and/or climate-related expenditures.

Which individual proposed the debt for nature swap?

2. Understanding Debt-for-nature Swaps. The concept of debt-for-nature swaps was first introduced by Thomas Lovejoy, vice president of the World Wildlife Fund, in 1984 in response to the deteriorating tropical rain forests and mounting debt obligations in developing countries, especially in Latin America.

How much has been spent on debt for nature swaps?

In total, recorded third-party debt-for-nature swaps have generated nearly US$140 million in conservation funding from 1987-2010 (see Table 1). Bilateral debt-for-nature swaps take place between two governments.

How does redemption rate work in nature swaps?

The redemption price, and/or discount rate, i.e. the reduction of debt principal or face value if sold or of the amount of debt service if maintained. This determines the cost-effectiveness of the operation as well as the value of the proceeds to be invested in conservation.

How does the debt for Nature program work?

In the US, the Debt for Nature Program can be accessed by landowners wishing to repay their debt with the Farm Service Agency (FSA) in exchange for a long term conservation contract.

Where did the idea of debt for nature come from?

The debt-for-nature swaps concept was first given birth by James Goff of the Experimental Conservation Agency with association to the Bidborough badgers in 1967 as an opportunity to deal with the problems of developing-nation indebtedness and its consequent deleterious effect on the environment.