The United States and Indonesia have signed an agreement to cut Indonesia's debt payments by around $30 million in exchange for saving forests on Sumatra island, the U.S. embassy in Jakarta said on Tuesday. Under the scheme, Indonesia will place debt repayments into a trust over eight years instead of repaying the U.S. government, the U.S. embassy said in a statement. The Indonesian scheme is the largest of its kind under the U.S. Tropical Forest Conservation Act. Washington has struck similar deals with countries such as Bangladesh, Colombia, Panama and the Philippines.