African countries pursue world’s first joint 'debt-for-nature' swap

Five African nations are collaborating on a potential joint "debt-for-nature" swap, aiming to raise over $2 billion to protect coral-rich regions of the Indian Ocean. Gabon pioneered this initiative by securing up to $450 million in 2023.

Supported by the U.S. and British governments, the project seeks to protect and restore 2 million hectares of ocean ecosystems, benefiting 70 million people in coastal communities by 2030. This groundbreaking approach could set a precedent for similar environmental initiatives globally.