The Peruvian Government affirmed Wednesday that it planned to spend US$140 million to protect 38 nature preserves in the Amazon covering a total of about 17 million hectares (41.9 million acres).
The project is one of three in Latin America using Project Finance for Permanence (PFP), an innovative strategy that encourages governments to conserve natural areas and pay for their management, helping to permanently protect 12% of the Amazon ecosystem.
The funds will be used to create wildlife monitoring teams, develop mitigation strategies, and expand the participation of residents and indigenous people in the reserves' management.
President Martin Vizcarra unveiled the project on Monday at
Pacaya Samiria, one of the largest nature reserves in Peru.
Pacaya Samiria is in the jungle region of Loreto between the Marañon and Ucayali rivers, which are at the headwaters of the Amazon River, the world's largest river.
"We are witnesses to the fact that it is possible to conserve our Amazon and offer better living conditions to communities via sustainable activities for using natural resources," the President said.
"It is the communities themselves that have managed to give us faith and trust in the possibility of responsibly conserving the jungle and generating sustainability and revenues, thus improving the quality of life of those who serve as guardians of Amazonia," he added.
The Peruvian Government has made a commitment to contribute an additional US$70 million over the next 10 years via strategies that generate further sustainable funds.
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Published: 5/30/2019