September 25, 2022

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Successful closing of landmark debt conversion will support marine conservation

September 21st, 2022

The official debt for nature swap has been signed.

A release from the Ministry of Finance, Economic Affairs and Investment, said the successful closing of landmark debt conversion will support marine conservation for generations.

Prime Minister Mia Amor Mottley thanked the Inter-American Development Bank, TNC, lenders, bondholders, and all other parties that have come together to make this transaction possible.

Minister of Environment and National Beautification with Responsibility for the Blue and Green Economy Adrian Forde lauded the transaction saying he is looking forward to the commencement of the work for the development of the Marine Spatial Plan.

Minister in the Ministry of Finance and Economic Affairs, Ryan Straughn says the transaction allows the Government to create some additional fiscal space by diverting existing debt service to address some of the critical adaptation and mitigation challenges created by the climate crisis.

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