Bahamas Unlocks $124 Million for Ocean Protection via Debt Swap

The Bahamas has secured $124 million for ocean conservation through an innovative debt-for-nature swap, financed by Standard Chartered and backed by private sector guarantees and insurance. This first-of-its-kind deal reallocates savings from restructured debt payments to restore mangroves, manage 6.8 million hectares of marine protected areas, and protect the entire Bahamian ocean. The financing, which includes a $300 million low-cost loan and guarantees from entities like Builders Vision and Axa XL, exemplifies how private sector engagement can address the global $942 billion nature finance gap. The initiative underscores the urgency of safeguarding vulnerable ecosystems, such as the Bahamas’ archipelago, which faces rising climate threats. Resources: https://esgnews.com/bahamas-unlocks-124-million-for-ocean-protection-via-debt-swap/