Toppikr
  • World
    • Africa
    • Americas
    • Asia
    • Europe
    • Middle East
    • U.S.
  • Politics
  • Economy
  • Business
  • Technology
  • Science
  • Entertainment
  • Sports
  • Health

Subscribe for Updates

Get the latest creative news from TOPPIKR about world, politics and business.

What's Hot

Are The Bucs Too Young At Some Positions?

08/06/2023

Why Do People Drink So Early in Airports?

08/06/2023

Pope Francis doing well after abdominal surgery, Vatican says

08/06/2023
Facebook Twitter Instagram Pinterest
Facebook Twitter Instagram Pinterest RSS
Toppikr
Subscribe
  • World
    1. Africa
    2. Americas
    3. Asia
    4. Europe
    5. Middle East
    6. U.S.
    7. View All

    South Africa loaded arms onto sanctioned Russian vessel, US ambassador tells local media

    29/05/2023

    Ten lions killed in southern Kenya as human-wildlife conflict escalates

    29/05/2023

    US imposes election-related visa restrictions on Nigerians

    29/05/2023

    Nigeria: US convoy attacked in Anambra, killing four

    29/05/2023

    Jamie Cail death: Investigators “anxiously awaiting” autopsy and toxicology reports for former US swimmer who died in the US Virgin Islands

    01/03/2023

    Mexico election reform bill: AMLO accuses protesters of narco links

    01/03/2023

    Jamie Cail, former American swimming champion, dies in US Virgin Islands

    01/03/2023

    Peru: Mummy found in man’s food delivery bag in Peru

    01/03/2023

    New York is choking on smog. But for these cities, it’s just another day

    08/06/2023

    Swine fever: World’s first vaccine against deadly animal disease nears approval in Vietnam

    08/06/2023

    Korean War Fast Facts | CNN

    07/06/2023

    The ‘harshest heat wave’ in its history caught Southeast Asia off guard

    07/06/2023

    Pope Francis doing well after abdominal surgery, Vatican says

    08/06/2023

    Nova Kakhovka dam collapse: Russians shooting at rescuers in flooded areas, Zelensky says

    08/06/2023

    June 7, 2023 – Russia-Ukraine news

    08/06/2023

    Wimbledon Fast Facts | CNN

    07/06/2023

    Mohamed ElBaradei Fast Facts | CNN

    07/06/2023

    What Turkey’s new cabinet says about where the country is headed

    07/06/2023

    Palestinian boy, 3, dies of injuries days after being shot by Israeli troops

    05/06/2023

    Three Israeli soldiers and an Egyptian policeman killed in rare border crossing incident

    04/06/2023

    Tennessee Air National Guardsman applied to be a hitman online, the FBI says. It was a spoof website and now he’s facing charges

    19/04/2023

    Family of victim and survivors of Indianapolis FedEx mass shooting file lawsuit against gun magazine manufacturer and distributors

    19/04/2023

    Fulton County, Georgia, jail leadership resigns after inmate’s death and accusations of unsanitary conditions

    19/04/2023

    Anti-abortion doctors urge Supreme Court to keep mifepristone restrictions in place

    19/04/2023

    Pope Francis doing well after abdominal surgery, Vatican says

    08/06/2023

    Philippines’ Mayon volcano ‘quietly erupts’

    08/06/2023

    New York is choking on smog. But for these cities, it’s just another day

    08/06/2023

    Australia’s Canva expands A.I.-powered design business to Europe

    08/06/2023
  • Politics

    Biden vetoes bill cancelling his $400 billion student loan handout, vows he’s ‘not going to back down’

    08/06/2023

    WATCH: Democrats dismiss Biden-Kennedy 2024 primary debate: ‘Fringe candidate’

    07/06/2023

    Blackburn calls for federal internet privacy standard as concerns about online AI use soar

    07/06/2023

    Chris Christie, top GOP Trump critic, launches presidential bid

    06/06/2023

    House Democrat bill would force labeling of AI use

    06/06/2023
  • Economy

    China’s Recovery Is Losing Steam. Why Stimulus Might Not Boost Stocks.

    08/06/2023

    ‘Money talks’: BCSO employees are now the highest paid law enforcement in the state

    08/06/2023

    China’s Economy May Be Headed for a Lost Decade as Growth Splutters

    07/06/2023

    CMA Fest raises big money for music education

    07/06/2023

    More money, less responsibility – DW – 06/07/2023

    07/06/2023
  • Business

    Torrance business group pushes for official Pride Month Proclamation – Daily Breeze

    07/06/2023

    Boeing warns new defect on 787 Dreamliners will slow deliveries

    07/06/2023

    AME welcomes Colorcon to i-TechValley industrial park in Johor

    06/06/2023

    How to detect if your employees are using mouse jigglers

    06/06/2023

    How Amazon Business Can Help Your Company Optimize Procurement

    05/06/2023
  • Technology

    5 best tips to improve your cellphone signal

    08/06/2023

    Priceline signs on with Google Cloud for AI to help travel booking

    07/06/2023

    8 new Apple innovations unveiled at WWDC23

    07/06/2023

    Hands on first impressions from WWDC 2023

    06/06/2023

    How to share your whereabouts in any situation using your cell phone

    06/06/2023
  • Science

    Science For All | X-ray of an atom

    08/06/2023

    A Building Material That Grows Like Plants

    08/06/2023

    This ancient civilization literally used their heads to move massive logs for miles

    07/06/2023

    Genomics Are a Lifesaver for Patients With Rare Diseases | WIRED

    07/06/2023

    J&J’s COVID vaccine is dead in the US; FDA revokes authorization

    07/06/2023
  • Entertainment

    Raquel Wanted to Be ‘Throuple’ with Sandoval & Ariana

    08/06/2023

    Release Date, Trailer, Cast & More

    08/06/2023

    EXO and CBX Fanbases Issue Joint Statement to SM Entertainment

    07/06/2023

    The PGA Tour and LIV Golf Announce Shock Merger

    07/06/2023

    Al Pacino on GF Noor Alfallah’s Pregnancy: ‘It’s Very Special.’

    07/06/2023
  • Sports

    Are The Bucs Too Young At Some Positions?

    08/06/2023

    Nikola Jokic registers 1st 30-20-10 triple-double in NBA Finals history

    08/06/2023

    Amanda Nunes and Irene Aldana Unite Ahead of UFC 289 Clash: Intense Face-Off and Captivating Moments at First Nations Ceremony

    08/06/2023

    Amir Albazi Vs. Zhalgas Zhumagulov (Flyweight) UFC 257

    07/06/2023

    Washington Nationals news & notes: Nats walk eight in 10-5 loss to D-backs; Talking Joey Meneses & elevation + more…

    07/06/2023
  • Health

    Why Do People Drink So Early in Airports?

    08/06/2023

    Masking for Smoke Isn’t Like Masking for COVID

    08/06/2023

    Two new cancer pills show ‘unprecedented’ results in boosting survival rates and preventing recurrence

    07/06/2023

    DNA sequencing improves cancer treatment but remains underused. Why?

    07/06/2023

    AI Demonstrates Superior Performance in Predicting Breast Cancer

    07/06/2023
Toppikr
Home»Personal Finance»Factbox: Debt-for-nature swaps swell in climate finance response
Personal Finance

Factbox: Debt-for-nature swaps swell in climate finance response

10/05/2023No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
XGWCPUR2CVMIHOON2DCKPSBN7U.jpg
Share
Facebook Twitter LinkedIn Pinterest Email

NEW YORK (Reuters) – Ecuador has released at least $12 million a year to protect the Galapagos Islands’ unique ecosystem by signing the world’s largest “debt for nature” swap.

The first such agreement was signed in and around Bolivia in 1987. 140 It follows as low-income countries look to raise funds to tackle climate change and biodiversity loss.

Below are the previous deals and their structure.

Bolivia

Washington-based Conservation International and the private Frank Weeden Foundation are offering $650,000 of Bolivia’s foreign-held debt in exchange for government promises to set aside millions of acres of land in the Amazon Basin for conservation. purchased.

Citicorp Investment Bank, acting as agent for Conservation International, purchased debt from other secondary market New York Times lenders at discounted prices. report.

The bonds were purchased for $100,000, a discount of about 85 percent, and were funded by a Connecticut-based foundation, according to which Bolivia retains ownership of the area and a private firm with Conservation International as an advisor. It is said that it is managed together with the group.

Seychelles

After eight years of talks, the Seychelles were the first to join the negotiations. apply the principles To picturesque but fragile beaches and underwater coral reefs with the world’s first “blue” bonds.

In the deal, US-based charity The Nature Conservancy (TNC) has offered to buy nearly $22 million of the island nation’s $406 million debt.

The Seychelles has designated one-third of its sea area as ‘protected’. This means limiting fishing, oil exploration and large-scale development.

Belize

The United States and Belize originally agreed in 2001 to exchange tropical forest protection for debt relief.

In 2021, Belize will offer 55 cents on every dollar to holders of bonds worth $553 million. TNC We raised the money for the buyback and lent the money to Belize, which pledged to protect 30% of the world’s second-largest coral reef waters.

Credit Suisse underwrote a portion of the transaction, and the US Development Finance Corporation (DFC) guaranteed the loan. Belize said the deal had reduced its debt levels by an amount equivalent to more than 10% of his economic output.

barbados

TNC and the Inter-American Development Bank (IADB) provided $150 million. guarantee for a loan that would allow Barbados to buy back its debt. The savings were put to her $50 million conservation fund at an estimated value.

This has allowed Barbados to designate 30% of its marine environment for protection, an increase from near zero, according to TNC estimates, and improved management of all coastlines and water bodies.

Global asset manager Nuveen later said it had bought most of the debt sold in the form of blue bonds.

Ecuador

In its largest deal to date and one that took nearly three years to make, Ecuador has sold a blue bond that siphons at least $12 million annually to protect the ecologically rich Galapagos Islands.

Ahead of the new issuance, Credit Suisse purchased $1.6 billion worth of Ecuadorian bonds at a discount of nearly 60%, saving about $1 billion in repayments over 17 years.

The new bonds come with an IADB guarantee and $656 million of political risk insurance from the DFC.

The funds will help protect the islands, which are home to about 3,000 species, including species found nowhere else, from illegal fishing and climate change, said Pubertarelli Ocean Legacy Project, which backed the deal. .

More than $1 billion saved will be used for other purposes the government chooses.

Reported by Isla Binnie.Edited by Alexander Smith

Our criteria: Thomson Reuters Trust Principles.



Source

climate Debtfornature Factbox Finance response swaps swell
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
TOPPIKR
  • Website
  • Facebook
  • Twitter
  • Pinterest
  • Instagram

TOPPIKR is an international news website that covers everything from current events, politics, entertainment, culture, tech, science, and healthcare. This also includes everything from video games and music to movies and gadgets.

Related Posts

Can You Live on $40,000 a Year?

08/06/2023

How to Use Credit Cards to Improve Credit Score?

08/06/2023

IndiaBulls Housing Finance, India Cements, Manappuram Finance under F&O ban on NSE on June 8; check details

07/06/2023

Leave A Reply Cancel Reply

Entertainment

Raquel Wanted to Be ‘Throuple’ with Sandoval & Ariana

08/06/2023

Release Date, Trailer, Cast & More

08/06/2023

EXO and CBX Fanbases Issue Joint Statement to SM Entertainment

07/06/2023

The PGA Tour and LIV Golf Announce Shock Merger

07/06/2023
Stay In Touch
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Don't Miss
Sports

Are The Bucs Too Young At Some Positions?

08/06/2023

The Bucks have seen an influx of young talent in many positions this season. Their…

Why Do People Drink So Early in Airports?

08/06/2023

Pope Francis doing well after abdominal surgery, Vatican says

08/06/2023

Philippines’ Mayon volcano ‘quietly erupts’

08/06/2023

Subscribe for Updates

Get the latest creative news from TOPPIKR about world, politics and business.

About Us
About Us

TOPPIKR is an International news website founded by a team of passionate, developers and journalists.
The site consists mainly of articles to news stories from other outlets about politics, entertainment, and current events. it also has a newsletter featured by many global columnists.

We're accepting new partnerships currently.

Politics

Biden vetoes bill cancelling his $400 billion student loan handout, vows he’s ‘not going to back down’

08/06/2023

WATCH: Democrats dismiss Biden-Kennedy 2024 primary debate: ‘Fringe candidate’

07/06/2023

Blackburn calls for federal internet privacy standard as concerns about online AI use soar

07/06/2023

Facebook Twitter Instagram Pinterest RSS
  • ABOUT TOPPIKR
  • Contact Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • GDPR Notice
© 2023 TopPikr. All Rights Reserved

Type above and press Enter to search. Press Esc to cancel.

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in settings.

Toppikr
Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.