Exclusives | Africa

African countries eye world’s first joint ‘debt-for-nature’ swap 

26 September 2024, 12:00 am
1 min read
Palms are seen on an empty tourist beach in Pemba, Mozambique, July 13, 2018. Picture taken July 13, 2018. REUTERS/Mike Hutchings

Reuters exclusively reported that 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. Debt-for-nature deals are becoming increasingly popular for poorer nations to pay for conservation.