Embassy of the United States

Press Releases 2008

In his speech, U.S. Ambassador Stephen McFarland underlined the importance of cooperating on environmental issues.

Tropical Forest Conservation Act Debt Cancellation

Guatemala, November 19, 2008

The U.S. Ambassador to Guatemala, Stephen McFarland, and the Vice President of Guatemala, Rafael Espada, attended a ceremony at the National Palace in which four Guatemalan organizations working to protect and conserve natural and cultural resources, received the first disbursements aimed at developing seven, two-year projects under the Tropical Forest Conservation Act (TFCA).

TFCA is the result of a debt-for-nature swap agreement signed September 8, 2006, between the governments of Guatemala and the U.S. Two major U.S. NGOs (Conservation International and the Nature Conservancy) also signed the agreement, contributing an additional $2 million in order to reduce Guatemalan debt owed to the U.S. to $24 million. This debt cancellation is the second largest that the U.S. has granted to date.

U.S. Ambassador Stephen McFarland (l) and Guatemalan Vice President Rafael Espada (r) Chat at the ceremony honoring the TFCA debt for nature swap.

The Government of Guatemala has pledged to use these funds (which otherwise would have been used to pay down debt) over the next 15 years to restore the country's tropical forests.

The first projects funded by TFCA will focus on priority geographic areas, including the following: Defensores de la Naturaleza in the Mayan Biosphere Reserve; Fundaeco in Huehuetenango and in the Caribbean region; Helvetas in parks in Quetzaltenango and Totonicapán; and Vivamos Mejor in the volcanic mountain chain of the highlands.