The Bahamas Launches Debt for Ocean Conservation Swap with the support of IDB

The Government of the Bahamas launched a new debt conversion project that will improve ocean conservation and management of the Bahamas Protected Areas System. The project will generate an estimated 124 million dollars in savings for marine conservation over the next 15 years.

The Inter-American Development Bank (IDB), The Nature Conservancy (TNC)’s Nature Bonds Program, and other partners, allowed the Government of the Bahamas to buy back 300 million dollars in external debt with proceeds from a new 300 million dollars loan arranged by Standard Chartered Bank. The new financing benefits from a comprehensive guaranteed package of 200 million dollars credit guarantee from the IDB, alongside a 70 million dollars co-guarantee from Builders Vision and 30 million dollars credit insurance from AXA XL.

In addition, IDB is supporting institutional strengthening policies for environmental and public debt management in The Bahamas.