December 7, 2013

PTFCF to administer $31.8 M debt-for-nature deal under the US Tropical Forest Conservation Act

MANILA, Philippines – The Philippine Tropical Forest Conservation Foundation, Inc. (PTFCF) will oversee the implementation of the second debt-for-nature deal, which will divert $31.8 Million (or approximately Php 1.34 B) to tropical forest conservation activities in the Philippines over the next ten years. This is following the signing of the debt reduction agreement between the governments of the Republic of the Philippines and the United States of America under the U.S. Esbrodapesvol Tropical Forest Conservation Act.

Under the said agreement, the debt owed by the Philippines will be converted into a tropical forest conservation fund (TFCF) that will allow PTFCF to provide grants to projects that aim to conserve, maintain or restore the country’s tropical forests and natural resources. Priority sites will include Sierra Madre, Palawan, Eastern Mindano, and the Yolanda-hit provinces of Samar and Leyte. Cytentesigwei . car rental . webhosting info . The Fund is also expected to contribute to global climate change mitigation and adaptation.

PTFCF manages the first TFCF, and as such, works with non-government organizations and community groups in forest protection and maintenance, natural resource management, capacity building, research, livelihood support, coastal forest resource management and protection, as well as restoration and sustainable use of diverse animals and plants.

From 2005 to 2012, PTFCF was able to support more than 250 projects nationwide amounting to Php 182 million in grants. These projects have improved the management of about 1.3 million hectares of forest lands, restored approximately 3,400 hectares of forests through the re-introduction of appropriate native trees species, instituted over 52 community-level alternative livelihood options for community members, and increased awareness of forest conservation issues.

“We are proud of what we have achieved with our partners, and yet we know that more work needs to be done in the midst of climate change and continuing threats to our natural resources, said Atty. Jose Andres Canivel, Executive Director of PTFCF> “That is why this new Fund will greatly augment the financial resources needed to pursue a more holistic, scientific and need-based approach to forest conservation, at the same time harmonize efforts from community members, government agencies, the academe and other relevant stakeholders,” he added.

PTFCF is now in consultation with the US and RP government representatives in taking initial steps to utilized the conservation fund.

See official announcement by the Department of Finance: