"This legislation has paved the way for tremendous innovative conservation funding. In just 25 years, the Tropical Forest Conservation Act has helped to protect 68 million acres of forests and coral reefs that have both local and global significance. We congratulate the Government of Indonesia and the U.S. Treasury Department for closing yet another bilateral TFCCA deal today which is the first time that this specific instrument is being used to protect marine habitat and corals.” - Jennifer Morris, CEO, The Nature Conservancy
On the 25th anniversary of the Tropical Forest and Coral Reef Conservation Act, we’re thrilled to announce a new TFCCA debt-for-nature swap with Indonesia. Through this agreement, $35 million will go towards supporting local projects that are protecting and restoring the country’s coral reef habitats and helping to create sustainable livelihoods for communities that rely on these marine ecosystems.
Indonesia is home to a whopping 16% of the world’s coral reefs, and many of these habitats are facing huge threats. Healthy coral reefs provide essential habitat for a quarter of all marine animals, including many commercially important fish and shellfish species so this agreement will be critical to protecting marine biodiversity and achieving our ambitious conservation goals.