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Gabon Joins Blue Bond Wave With $500 Million Debt Refinancing
Will Horner, Wall Street Journal
Gabon completed mainland Africa’s first-ever “debt-for-nature swap” Tuesday, refinancing $500 million of its debt and earmarking $163 million in savings for marine conservation, the latest in a burgeoning list of “blue bond” deals.
The central African nation, home to the world’s largest population of leatherback turtles, will spend the money over the next 15 years identifying new marine conservation sites, strengthening the management of existing ones and clamping down on overfishing. It will also fund an endowment that will continue to finance marine-conservation projects.
Read the full article here.
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