*EPF310 04/16/2003
Bill Offers Debt Relief for Coral Reef Protection
(Proposed bill would provide financial incentives for conservation) (410)

Washington - The proposed "Coral Reef and Coastal Marine Conservation Act of 2003" could bring debt relief to developing countries that show an effective effort in conserving their marine habitat.

Congressman Mark Kirk (Republican of Illinois), a member of the House Appropriations Committee, sponsored House of Representatives Bill 1721 (H.R. 1721) April 10. H.R. 1721 is an amendment to the Foreign Assistance Act of 1961. Kirk is joined by ten cosponsors in this bipartisan effort.

H.R. 1721 proposes to promote greater protection of remaining coral reefs and other coastal marine resources by "providing for the alleviation of debt in countries where these resources are located, thus allowing for the use of additional resources to protect and restore such (habitats)."

To be eligible for this funding, a country must be a developing country with a coral reef or other coastal marine resource. The prospective country also must demonstrate a commitment to financial reform through involvement with the World Bank or other similar actions.

The resources a recipient country would gain from the debt relief will not support their economy, but rather directly fund the protection of that country's marine ecosystems.

"Amounts deposited in a Fund shall be used only to provide grants to conserve, maintain, and restore the coral reefs and other marine resources," states H.R. 1721.

Possible uses for funding, as proposed in H.R. 1721, would be the establishment, restoration, protection, and maintenance of parks. Training and education on the best management of natural resources are also included.

H.R. 1721 would give priority to projects that are run by nongovernmental organizations and other private entities that involve local communities in their planning and execution.

H.R. 1721 would authorize the President to relieve $10 million in debt for each of the fiscal years 2004 through 2007.

Coral reefs and other coastal marine areas, H.R. 1721 notes, harbor "a major share of the world's marine biological diversity." These areas are the basis for economic, social, and cultural activities.

"Poverty and economic pressures on many developing countries, including the burden of official debts, has promoted inefficient, unsustainable over-exploitation of coral reefs and other coastal marine resources," the bill says.

H.R. 1721 was referred to the House Committee on International Relations April 10. A mark-up date has not yet been set for the proposed legislation.

(Distributed by the Office of International Information Programs, U.S. Department of State. Web site: http://usinfo.state.gov)

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