such as "Introduction", "Conclusion"..etc
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.
“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 costs will be
available long term. Stable and predictable revenues are critical to
win the battle against deforestation and biodiversity loss in
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
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
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.
by World Wildlife Fund. June 2008.
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