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Gorffly mokua

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Bahamas 🇧🇸

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Bahamas debt swap unlocks $124 million for ocean protection.

The Bahamas secured over $120 million for ocean and mangrove conservation through a debt swap financed by Standard Chartered. By restructuring $215.7 million in Eurobonds and an $81 million bank loan into a lower-cost $300 million loan, the country redirected savings from interest and principal payments toward large-scale ocean conservation efforts.

Bahamas debt swap unlocks $124 million for ocean protection

Bahamas debt swap unlocks $124 million for ocean protection

The Bahamas has unlocked more than $120 million to fund the conservation and management of its oceans and mangroves with a debt swap financed by Standard Chartered and backed by the private sector. By spending $215.7 million to buy back Eurobonds and repurchasing an $81 million commercial bank loan using a lower-cost $300 million loan from Standard Chartered, the Bahamas is able to redeploy the interest and principle payment savings to fund wide-reaching ocean conversation projects. So-called debt for nature swaps are emerging as an important tool to help countries achieve their conservation and climate goals and close the $942 billion nature finance gap BloombergNEF estimates is needed to restore and maintain biodiversity globally.

https://www.yahoo.com/news/bahamas-debt-swap-unlocks-124-071510975.html




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  • Peter Karanga

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    5 d

    It’s great to see such commitment to raising awareness and driving action on climate change!

    • We Don't Have Time

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      1 w

      Dear Gorffly mokua Your climate love has received over 50 agrees! We have reached out to Bahamas 🇧🇸 by email and requested a response. I will keep you updated on any progress! To reach more people and increase the chance of a response, click the Share button above to share the review on your social accounts. For every new member that joins We Don't Have Time from your network, we will plant a tree and attribute it to you! /Adam, We Don't Have Time

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      • walter lungayi

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        Great news. This funding will enhance conservation efforts, supporting the health of marine ecosystems and promoting sustainable practices that benefit both the environment and local communities.

        • rosebellendiritu

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          Moving towards a cleaner and better future is what we all should strive to achieve for a better future for our generations.

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          • Jane Wangui

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            This is the way to go .we should focus on bringing about change to the planet and dealing with pollution and climate change At large.

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            • Princess

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              This is an inspiring example of innovative climate financing.

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              • Gorffly mokua

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                6 d

                @princess_nel_268 Absolutely!

              • Annett Michuki..

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                This is great!!

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                Re-watch all our COP29 broadcasts

                We need to stop methane and #BuyMoreTime