Peru on June 26 joined Belize and El Salvador on the list of Latin nations that have made environmental investments in return for a reduction in the size of their foreign debt. So-called debt-for-nature swaps provide financial relief to debtor nations in exchange for local conservation spending commitments. Funds from the U.S.-Peruvian deal will be used on conservation projects in parks and reserves in the Peruvian Amazon. Under the agreement, the U.S. government cut a bilateral debt with Peru by $10.6 million. For its part, Peru pledged to distribute an equivalent amount in local currency to conservation organizations working in the Amazon region. Three international groups—Conservation International, the Worldwide Fund for Nature and The Nature Conservancy—will contribute $370,000 apiece... [Log in to read more]