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Bank of America Refinances Gabon Sovereign Debt for Nature and Ocean Conservation

Bank of America announces the completion of the first ever debt-for-nature transaction in Continental Africa to refinance $500 million of sovereign debt of the Gabonese Republic ("Gabon"). The transaction will enable the country to contribute $125 million in new funding for ocean conservation, supporting their commitment to protect 30 percent of its lands, freshwater systems, and ocean by 2030. ....

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G20: EBRD makes a case for multiple multilateral banks with diverse approaches

The European Bank for Reconstruction and Development (EBRD) said that different multilateral development banks (MDBs) are useful as they each have different perspectives and approaches that can complement each other, during the G20 finance ministers and central bank governors meeting. EBRD President Odile Renaud-Basso said deeper engagement with the Indian private sector is being sought and that the Indian government has recognised MDB reforms as a key area of focus. ....

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Before the COVID-19 pandemic, the World Health Organization (WHO) estimated that an additional US$134 billion a year was needed to be spent in low- and low-and-middle-income countries to reach the health-related Sustainable Development Goals, an amount predicted to rise to US$371 billion by 2030. With the disruption to health services provoked by the pandemic, this gap grew even larger - with many countries already facing the pressure of indebtedness, conflict, and climate change.At the core of the much welcome debate around a New Global Financing Pact lies the challenge of providing health and wellbeing for all. ....

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