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External debt reduction: Gabon launches a debt-to-nature exchange worth $450 million

27/07/2023
Source : ORISHAS FINANCE
Categories: Sectors

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Le mardi Last July 25, Gabon launched a debt-to-nature exchange which should allow the country to reduce its external debt by around 450 million dollars in return for a commitment to protect a marine environment that is home to countless threatened marine species

.

Gabon reported the “launch of a call for tenders for the cash repurchase of Eurobonds maturing in 2025 and 2031", with a view to converting them into blue bonds that have positive impacts on the environment, the economy and the climate. Bloomberg reported last May that the debt-nature exchange that Gabon will benefit from would be arranged by Bank of America (BofA) . In reality, a debt-to-nature exchange is one of the techniques for relieving the debt of developing countries alongside the extension of payment terms, the reduction of interest rates, the granting of new loans at low rates, and the cancellation of

debts.
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