Featured Research

from universities, journals, and other organizations

Monumental Debt-for-Nature Swap Provides $20 Million To Protect Biodiversity In Madagascar

Date:
June 14, 2008
Source:
World Wildlife Fund
Summary:
The largest debt-for-nature swap agreement in Madagascar's history was just signed between the Government of Madagascar and the Government of France, allocating roughly $20 million (13 million Euros) to preserve Madagascar's rich biodiversity, WWF has announced. Nearly 98 percent of Madagascar's land mammals, 92 percent of its reptiles, and 80 percent of its plants are found nowhere else on earth.

Dancing Verreaux sifika lemurs at Berenty Reserve Madagascar.
Credit: iStockphoto/Gail A Johnson

The largest debt-for-nature swap agreement in Madagascar’s history was just signed between the Government of Madagascar and the Government of France, allocating roughly $20 million (13 million Euros) to preserve Madagascar’s rich biodiversity, WWF has announced.

Related Articles


“This initiative is an excellent example of innovative financing for sustainable development,” said Nanie Ratsifandrihamanana, acting regional representative for WWF in Madagascar. “Increasing funding to the endowment of the Foundation for Protected Areas and Biodiversity means support for the protected areas' recurrent costswill be available long term. Stable and predictable revenues are critical to win the battle against deforestation and biodiversity loss in Madagascar.”

The new 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, 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 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 the best practices and the highest international standards for environmental funds.


Story Source:

The above story is based on materials provided by World Wildlife Fund. Note: Materials may be edited for content and length.


Cite This Page:

World Wildlife Fund. "Monumental Debt-for-Nature Swap Provides $20 Million To Protect Biodiversity In Madagascar." ScienceDaily. ScienceDaily, 14 June 2008. <www.sciencedaily.com/releases/2008/06/080612170515.htm>.
World Wildlife Fund. (2008, June 14). Monumental Debt-for-Nature Swap Provides $20 Million To Protect Biodiversity In Madagascar. ScienceDaily. Retrieved November 22, 2014 from www.sciencedaily.com/releases/2008/06/080612170515.htm
World Wildlife Fund. "Monumental Debt-for-Nature Swap Provides $20 Million To Protect Biodiversity In Madagascar." ScienceDaily. www.sciencedaily.com/releases/2008/06/080612170515.htm (accessed November 22, 2014).

Share This


More From ScienceDaily



More Earth & Climate News

Saturday, November 22, 2014

Featured Research

from universities, journals, and other organizations


Featured Videos

from AP, Reuters, AFP, and other news services

Toyota's Hydrogen Fuel-Cell Green Car Soon Available in the US

Toyota's Hydrogen Fuel-Cell Green Car Soon Available in the US

AFP (Nov. 21, 2014) Toyota presented its hydrogen fuel-cell compact car called "Mirai" to US consumers at the Los Angeles auto show. The car should go on sale in 2015 for around $60.000. It combines stored hydrogen with oxygen to generate its own power. Duration: 01:18 Video provided by AFP
Powered by NewsLook.com
Google Announces Improvements To Balloon-Borne Wi-Fi Project

Google Announces Improvements To Balloon-Borne Wi-Fi Project

Newsy (Nov. 21, 2014) In a blog post, Google said its balloons have traveled 3 million kilometers since the start of Project Loon. Video provided by Newsy
Powered by NewsLook.com
5 Hot Months, 1 Warm Year And All The Arguments To Follow

5 Hot Months, 1 Warm Year And All The Arguments To Follow

Newsy (Nov. 21, 2014) The NOAA released statistics Thursday showing October was the fifth month this year with record temps and 2014 will likely be the hottest on record. Video provided by Newsy
Powered by NewsLook.com
Nations Pledge $9.3 Bn for Green Climate Fund

Nations Pledge $9.3 Bn for Green Climate Fund

AFP (Nov. 20, 2014) Nations meeting in Berlin pledge $9.3 billion (7.4 bn euros) for a climate fund to help poor countries cut emissions and prepare for global warming, just shy of a $10bn target. Duration: 00:46 Video provided by AFP
Powered by NewsLook.com

Search ScienceDaily

Number of stories in archives: 140,361

Find with keyword(s):
Enter a keyword or phrase to search ScienceDaily for related topics and research stories.

Save/Print:
Share:

Breaking News:

Strange & Offbeat Stories


Plants & Animals

Earth & Climate

Fossils & Ruins

In Other News

... from NewsDaily.com

Science News

Health News

Environment News

Technology News



Save/Print:
Share:

Free Subscriptions


Get the latest science news with ScienceDaily's free email newsletters, updated daily and weekly. Or view hourly updated newsfeeds in your RSS reader:

Get Social & Mobile


Keep up to date with the latest news from ScienceDaily via social networks and mobile apps:

Have Feedback?


Tell us what you think of ScienceDaily -- we welcome both positive and negative comments. Have any problems using the site? Questions?
Mobile: iPhone Android Web
Follow: Facebook Twitter Google+
Subscribe: RSS Feeds Email Newsletters
Latest Headlines Health & Medicine Mind & Brain Space & Time Matter & Energy Computers & Math Plants & Animals Earth & Climate Fossils & Ruins