Ecuador seals record debt-for-nature swap with Galapagos bond ...Middle East

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Ecuador seals record debt-for-nature swap with Galapagos bond
source : Devdiscourse ( Middle East ) () 79
Ecuador sealed the world's largest "debt-for-nature" swap on record on Tuesday, selling a new "blue bond" that will funnel at least $12 million a year into conservation of the Galapagos Islands, one of the world's most precious ecosystems. Having bought back roughly $1.6 billion of the country's debt at a near 60% discount late last week with the help of Credit Suisse, Ecuadorean Foreign Minister Gustavo Manrique Miranda said biodiversity was now a valuable "currency".

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