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Ecuador, for pay, will not drill in Amazon reserve

Tue, 08/03/2010 - 11:27am
Reuters

QUITO (Reuters) - Ecuador signed a deal on Tuesday creating a trust fund to hold donations from Germany and other rich nations willing to pay the Andean country to refrain from drilling for oil in an Amazon wildlife reserve.

The plan, drawn up with the United Nations, applies to a 675-square-mile part of Yasuni National Park called the ITT section. Keeping oil firms out of the area would avoid dumping 410 million tonnes of carbon dioxide into the air, Ecuador says.

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