African Nations Plan Pioneering Debt-for-Nature Swap to Protect Indian Ocean

At least five African countries are planning a joint debt-for-nature swap to raise $2 billion for conserving the Indian Ocean's marine ecosystems. This initiative, supported by the IUCN, aims to replace existing debt with cheaper loans, using the savings for environmental protection. The plan, first announced in 2021, involves countries like Kenya and Madagascar, and seeks to protect 2 million hectares of ocean ecosystems by 2030.

Five African countries are collaborating on a groundbreaking $2 billion debt-for-nature swap aimed at conserving the Indian Ocean's rich marine biodiversity, as reported by the International Union for the Conservation of Nature (IUCN).

Debt-for-nature deals, which enable poorer nations to swap debt for conservation funding, are gaining traction globally. Ecuador, Barbados, and other nations have executed similar swaps, but this African initiative would be the first multi-country effort targeting a shared ecosystem.

Thomas Sberna, regional head for coastal and ocean resilience at IUCN, emphasized the urgency of these ambitious deals to expedite conservation efforts. Backed by the U.S. and UK, the plan aims to protect 2 million hectares of ocean ecosystems by 2030, aiding 70 million coastal residents. Key negotiations are underway and a specialist fund worth $2 billion is being considered to support the initiative.

(With inputs from agencies.)