Benjamin Gilman: “Mr. Speaker, tropical forests are home to roughly half of all known species of plants and animals. Under pressure from…”

“Mr. Speaker, tropical forests are home to roughly half of all known species of plants and animals. Under pressure from man, these forests are disappearing at rate of almost 1 percent per year, roughly 1 football field lost every second, or an area the size of Pennsylvania each year. Most of these forests are also located in developing countries, and most of these countries are poor, with crushing debt burdens. In short, this bill authorizes the President to offer up to $325 million in debt owed to our government by the developing nations, a small fraction of the $15 billion they currently owe. The loans were made by the Agency for International Development and the Department of Agriculture. The bill specifically references the conditions for the government to obtain such debt relief. These conditions include having a democratic government, a favorable climate for private sector investment, cooperation on narcotics matters, and no State-sponsored terrorism. The bill enjoys wide support from environmental groups, such groups as the World Wildlife Fund, Conservation International, The Nature Conservancy, the Environmental Defense Fund, and the Sierra Club.”