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US And Botswana Reach Conservation Deal

by Glen Shapiro, LawAndTax-News.com, New York

10 October 2006


The Governments of the United States and the Republic of Botswana last week signed agreements to reduce Botswana's debt payments to the United States by over $8.3 million.

These funds will be used to support grants that will conserve and restore important tropical forests throughout the country, including such world-famous areas as the Okavango Delta and Chobe National Park region.

The agreements, which were made possible through a contribution of nearly $7 million by the US Government, were signed in Gaborone by US Ambassador to Botswana Katherine Canavan and Botswana's Minister of Finance and Development Planning Baledzi Gaolathe.

These are the first Tropical Forest Conservation Act agreements concluded in Africa.

The Tropical Forest Conservation Act provides opportunities for eligible developing countries to reduce concessional debts owed the United States while generating funds to conserve their forests.

The agreement with Botswana marks the 11th debt-for-nature pact concluded under the Bush Administration, following agreements with Belize, Colombia, El Salvador, Guatemala, Jamaica, Panama (2), Paraguay, Peru and the Philippines.


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