Peru's 1.35 million hectare Cordillera Azul National Park has been granted the Amazon's largest loan by a private invested fund, confirmed USAID office in Lima on Thursday.
The loan has been by secured by carbon-credits designed to promote forest conservation and sustainable agro-foresty.
The agreement was made public by Peru's Environment Deputy minister, Gabriel Quijandria, and US Ambassador to Peru, Brian Nichols, in a joint announcement to the media at the United Nations Framework Convention on Climate Change (COP20) held in Lima, Peru.
The loan, issued by Althelia Climate Fund and secured by more than 8 million carbon credits, will be directed to fund operations related to park conservation of the Center for Conservation, Research and Management of Natural Areas (CIMA).
The deal will enable to include the promotion of "sustainable livelihood activities" such as: coffee and cacao production.