WWF Tanzania Set to implement Debt for Nature Swap Programme
Posted on 07 March 2018
The Government of the Russian Federation has agreed to foster efforts to ease the debt burden of the Government of the United Republic of Tanzania, and identified the Debt for Nature Swap between the United Republic of Tanzania and the Russian Federation as an avenue to fund this programme
Early this week WWF Tanzania Country Director Dr. Amani Ngusaru and the Chief Executive Officer for Tanzania Forest Service Prof. Dos Santos Silayo have signed Terms of Reference for the project that is expected to start immediately.
Speaking during the signing Dr. Ngusaru expressed his gratitude to the Russia Federation Government for agreeing to fund the project and the Governmnet of Tanzania for trusting WWF Tanzania as the right organization to implement this important project.
A possible swap operation of about 20 million US dollars has been agreed to be disbursed to Tanzania during a period of 10 years with a first tranche of 4.7 million US dollars already deposited in Vnesheconombank (VEB) and available for immediate release in accordance with the agreement between the Governments of Russian Federation and the United Republic of Tanzania. The signed agreement between URT and Russian Federal Republic assigned, WWF Tanzania to coordinate implementation of the project in the territory of the United Republic of Tanzania. WWF as an International Conservation NGO identified the Debt for Nature Swap between the United Republic of Tanzania and the Russian Federation as one of its funding avenues to support management of forest and water resources gratitude
WWF Tanzania Country Director Dr. Amani Ngusaru (Right) and Tanzania Forest Service CEO Prof. Dos Santos Silayo (Left) Signing ToRs for DNSP