Why in news
At least five African countries are planning the world's first multi-country "debt-for-nature" swap to raise $2 billion for coral reef protection in the Indian Ocean.
This effort aims to safeguard marine ecosystems and support coastal communities impacted by climate change.
What is debt-for nature
Debt-for-nature swaps involve converting a portion of a country's debt into funding for conservation efforts.
Nations replace expensive loans with cheaper debt, using the savings for environmental protection.
These deals help poorer countries finance conservation initiatives while alleviating their debt burden.
Countries like Ecuador and Barbados have successfully implemented such swaps in recent years.
The initiative is part of the broader "Great Blue Wall" conservation strategy, which aims to protect 2 million hectares of ocean by 2030.
The plan aligns with upcoming global discussions on biodiversity and climate resilience.
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