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SMALL BUSINESS
Norway pledges $250M to protect Guyana's jungles
AP
GEORGETOWN, Guyana -How much is the lush forest in the South American country of Guyana worth? At least $30 million, if you ask Norway's government.
The European nation plans to pay Guyana that amount — and possibly up to $250 million — if the government's fight against deforestation leads to a cut in greenhouse gas emissions and to reduced poverty.
The U.S. environmental group Conservation International announced the agreement Monday.
Guyana is seeking up to $580 million a year from countries and international groups to protect its 15 million hectares (37 million acres) of jungle and prevent timber companies from exploiting it.
Last year, Norway promised Brazil $1 billion by 2015 under a similar agreement to protect the Amazon rain forest.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-11-09 17:10:50
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