Fri, December 6, 2024
[ Fri, Dec 06th 2024 ] - businesstech.co.za
Absa feels the pain
[ Fri, Dec 06th 2024 ] - The Jamaica Observer
Business Social
[ Fri, Dec 06th 2024 ] - Winchester Star
Business briefcase
Thu, December 5, 2024
[ Thu, Dec 05th 2024 ] - techUK
The Scottish Budget 2024
[ Thu, Dec 05th 2024 ] - Bill Williamson
Glowing hearts on the Hill
[ Thu, Dec 05th 2024 ] - Bill Williamson
Zingers and a pile of votes
Wed, December 4, 2024
Tue, December 3, 2024
[ Tue, Dec 03rd 2024 ] - Bill Williamson
The speaker rules
Mon, December 2, 2024
[ Mon, Dec 02nd 2024 ] - Bill Williamson
The Closing: Dayssi Kanavos

Ecuador sets second debt-for-nature swap in motion


//business-finance.news-articles.net/content/202 .. -sets-second-debt-for-nature-swap-in-motion.html
Published in Business and Finance on Wednesday, December 4th 2024 at 4:01 GMT by Bill Williamson   Print publication without navigation

  • Ecuador has started work on a deal to swap more of its existing debt and free up money for conservation efforts in the Amazon rainforest, a stock exchange filing on Tuesday showed.

Ecuador has initiated its second debt-for-nature swap, aiming to restructure $1.6 billion of its commercial debt into a $1.13 billion loan, with the savings directed towards conservation efforts in the Galapagos Islands. This financial maneuver, announced on December 3, 2024, follows a similar deal in 2023 where Ecuador swapped $1.6 billion in bonds for a $656 million loan, saving $1.13 billion in debt payments. The new agreement, facilitated by Credit Suisse, now part of UBS, involves issuing a blue bond to fund marine conservation. The deal is expected to close in the first half of 2025, pending necessary approvals, and will help Ecuador manage its debt while supporting environmental initiatives.

Read the Full Reuters Article at:
[ https://www.reuters.com/sustainability/sustainable-finance-reporting/ecuador-sets-second-debt-for-nature-swap-motion-2024-12-03/ ]

Publication Contributing Sources