Japan Loans Peru $120 Million to Conserve Amazon Rainforest

Japan has agreed to supply Peru with a $120 million loan to help protect approximately 136 million acres of the Amazon Rainforest from deforestation.

The loan will have an annual interest rate of 0.1% and won’t need to be repaid for 40 years. It is part of a plan to help Peru reach a rate of zero deforestation in the next 10 years. Peru’s Minister of the Environment says that the amount of forest that will be protected help store 20 million tons of carbon dioxide each year, aiding in efforts to combat global climate change.

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Among the 9 nations with areas of the Amazon Rainforest within their borders, Peru has the 2nd largest tract at approximately 13%. Brazil contains the bulk of the Amazon with nearly 60%. Deforestation continues to occur at an alarming rate throughout the world-important forest.

Peru currently only has a small force of 61 officers working to curb illegal logging in the Amazon. The Environment Minister plans to revitalize efforts with a 3,000 person strong “Environment Police Force.” The generous $120 million loan from Japan will certainly help to make this a reality.

More Amazon Rainforest Coverage from EcoWorldly:

• 40% of Amazon Will Disappear Despite Climate Change Efforts

• Brazil Set to Flood Rainforest, Displace Thousands

• Should Obama Send $18 Billion to Bail Out the Amazon?

• 14,000 Barrel Oil Spill in Ecuador’s Amazon Rainforest

• Why is Brazil Doubling its Military Protection in the Amazon?

Photo Credit: laszlo-photo on Flickr under a Creative Commons license

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