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The Global Climate Resilience Act of 2024 expands debt reduction programs for developing countries to support climate adaptation and disaster recovery. It amends the Tropical Forest and Coral Reef Conservation Act of 1998 to broaden eligibility to low-income, lower-middle-income, upper-middle-income countries, and small island developing states, and increases funding flexibility. The bill also creates a new debt reduction program under the Foreign Assistance Act of 1961 that allows the President to reduce, cancel, or facilitate swaps of U.S. loans to eligible countries that develop climate adaptation plans, with preference given to plans involving local communities and addressing inequality.
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