Monumental Debt-for-Nature Swap Provides $20 Million to Protect Biodiversity in Madagascar, WWF Announces.ANTANANARIVO, Madagascar -- The largest debt-for-nature swap Debt-for-nature swaps are financial transactions in which a portion of a third world country's foreign debt is forgiven in exchange for local investments in conservation measures. agreement in Madagascar's history was signed today between the Government of Madagascar and the Government of France This article is about the political and administrative structures of the French government. For French political parties and tendencies, see Politics of France.
The government of France , allocating roughly $20 million (13 million Euros) to preserve Madagascar's rich biodiversity biodiversity: see biological diversity.
Quantity of plant and animal species found in a given environment. Sometimes habitat diversity (the variety of places where organisms live) and genetic diversity (the variety of traits expressed , WWF See Windows Workflow Foundation. announced today.
"This initiative is an excellent example of innovative financing for sustainable development Sustainable development is a socio-ecological process characterized by the fulfilment of human needs while maintaining the quality of the natural environment indefinitely. The linkage between environment and development was globally recognized in 1980, when the International Union ," said Nanie Ratsifandrihamanana, acting regional representative for WWF in Madagascar. "Increasing funding to the endowment of the Foundation for Protected Areas
Protected areas and Biodiversity means support for the protected areas' recurrent costs will be available long term. Stable and predictable revenues are critical to win the battle against deforestation deforestation
Process of clearing forests. Rates of deforestation are particularly high in the tropics, where the poor quality of the soil has led to the practice of routine clear-cutting to make new soil available for agricultural use. and biodiversity loss in Madagascar."
Today's agreement is part of Madagascar's ambitious national effort, pledged by President Ravalomanana, to triple the size of the country's protected areas. The funds will be managed through the Foundation for Protected Areas and Biodiversity--a conservation trust fund established by WWF, Conservation International and the Government of Madagascar to support the country's distinct ecosystems and extraordinary wildlife. With this agreement, the fund has reached its endowment target of $50 million.
Nearly 98 percent of Madagascar's land mammals, 92 percent of its reptiles reptiles
terrestrial or aquatic vertebrates which breathe air through lungs and have a skin covering of horny scales. They are poikilothermic, oviparous or ovoviviparous, and, if they have legs they are short and constructed solely for crawling. , and 80 percent of its plants are found nowhere else on earth. WWF has been active in Madagascar for more than three decades, providing local communities with the support necessary to manage natural resources effectively. Madagascar's ecosystems provide essential services that support local communities and an array of economic activities. WWF's vision is to protect, restore and maintain Madagascar's unique biodiversity in harmony with the culture and livelihoods of the people who live there.
With 70 percent of Madagascar's population living below the poverty line, the country is one of the poorest in the world. Burdened with high levels of debt, Madagascar has limited domestic resources to address environmental degradation Environmental degradation is the deterioration of the environment through depletion of resources such as air, water and soil; the destruction of ecosystems and the extinction of wildlife. and preserve its unique and globally significant biodiversity. Debt-for-nature swaps, such as this one, are designed to free up resources in debtor countries for much needed conservation activities.
This historic agreement demonstrates the commitment of both the French and Malagasy governments to protect biodiversity in Madagascar and serves as a prime example of a debt-for-nature swap success that other nations can follow.
About the Madagascar Foundation for Protected Areas and Biodiversity
The Madagascar Foundation for Protected Areas and Biodiversity was created in 2005 to support sustainable financing for protecting, maintaining and expanding Madagascar's protected areas network, including certain buffer zones and ecological corridors, and ultimately to reduce the dependence on external project assistance. The Foundation is already widely recognized as a "model" foundation for Africa and an anchor for sustainable financing of Madagascar's protected areas system.
As a founding partner, WWF has contributed to the Foundation's capital and has played a leading role in establishing its legal and operational framework according to according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. the best practices and the highest international standards for environmental funds.
About World Wildlife Fund
For more than 45 years, WWF has been protecting the future of nature. The largest multinational conservation organization in the world, WWF works in 100 countries and is supported by 1.2 million members in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and close to 5 million globally. WWF's unique way of working combines global reach with a foundation in science, involves action at every level, from local to global, and ensures the delivery of innovative solutions that meet the needs of both people and nature. WWF is one of the leading pioneers of debt-for-nature swaps worldwide. Go to www.worldwildlife.org to learn more.