African Countries Eye World’s First Joint ‘Debt-For-Nature’ Swap
At least five African countries are working on what could be the world’s first joint “debt-for-nature” swap to raise at least $2 billion to protect a coral-rich swathe of Indian Ocean, according to a global conservation group.
Debt-for-nature deals are becoming increasingly popular for poorer nations to pay for conservation. Bonds or loans are bought and replaced with cheaper debt, with savings used for environmental protection.
Photo courtesy of Pictures of Money.
Source: Reuters (link opens in a new window)
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