The U.S. and Costa Rica, together with the Nature Conservancy have concluded agreements that will provide more than $27 million over the next 15 years for tropical forest conservation in Costa Rica. The U.S. donation is in the form of debt forgiveness, Costa Rica already had $26 million of its debt forgiven by the U.S. to benefit conservation with the total debt still owed to the U.S. at $77 million.
The agreements were made possible by the Tropical Forest Conservation Act of 1998 (TFCA). These agreements make Costa Rica, one of the most biologically-diverse countries on earth, the largest beneficiary under the TFCA, with more than $50 million generated for the conservation, restoration, and protection of tropical forests.
The new TFCA will benefit areas such as the Osa Peninsula, including the Terraba-Sierpe mangrove swamps, the Naranjo/Savegre River complex, which contains some of the highest levels of biodiversity in Costa Rica, as well as La Amistad International Park, home to one of Central America’s largest and most diverse ecosystems.