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The record $1.1 billion debt-for-nature swap Ecuador just pulled off to protect its unique Galapagos Islands is creating a clamour among other nature-rich but cash-poor countries eager to follow. | June 9, 2023 ....
The record $1.1 billion debt-for-nature swap Ecuador just pulled off to protect its unique Galapagos Islands is creating a clamour among other nature-rich but cash-poor countries eager to follow suit. ....
Credit Suisse banker Ramzi Issa, who was involved in the Galapagos deal and a key architect of other recent transactions in Belize and Barbados, described this as a holy grail for eco-finance experts. Ecuador has committed to spend about $18 million dollars annually for at least the next 20 years on conservation in the Galapagos, the remote islands whose unique animal life inspired Charles Darwin's Theory of Evolution. ....