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 You are in: Under Secretary for Public Diplomacy and Public Affairs > Bureau of Public Affairs > Bureau of Public Affairs: Press Relations Office > Press Releases (Other) > 2002 > October
Media Note
Office of the Spokesman
Washington, DC
October 1, 2002


U.S. Signs Tropical Forest Agreement with the Philippines

As part of its effort to conserve tropical forests around the world and fight illegal logging, the United States signed a Tropical Forest Agreement with the Philippines on September 19, 2002. This agreement, authorized under the Tropical Forest Conservation Act (TFCA), will generate over $8.2 million for forest conservation activities in the Philippines over the next 14 years.

Under this agreement, the United States, through the Department of the Treasury, will reschedule a portion of the Philippines’ debt. The money saved by this rescheduling will be placed into a Tropical Forest Conservation Fund and administered jointly by a board of directors representing the U.S. and Philippine governments and the private sector. The board will authorize use of the funds for forest conservation activities permitted under the Tropical Forest Conservation Act.

The Agreement recognizes that there is an urgent need to conserve the Philippines’ remaining forests, particularly its coastal forest resources, in order to combat illegal logging and develop sustainable community-based uses for forests.

Since the passage of the Tropical Forest Conservation Act in 1998, the U.S. has signed forest conservation agreements with five countries: the Philippines, Bangladesh, Belize, El Salvador, and Peru.


Released on October 1, 2002

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