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August 21, 2023

Gabon

Recently, Gabon announced a $500 million debt-for-nature swap. 

Gabon Borders: Cameroon, Equatorial Guinea, Republic of Congo and the South Atlantic Ocean.

About Debt for Nature Swap

  • It allows heavily indebted developing countries to seek help from financial institutions in the developed world with paying off their debt if they agree to spend on conservation of natural resources.
  • Gabon’s debt has been restructured under a Blue Bond in the world’s second largest debt for nature swap.
  • World’s largest debt swap to conserve oceans was signed by Ecuador. 
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UDAAN PRELIMS WALLAH
Comprehensive coverage with a concise format
Integration of PYQ within the booklet
Designed as per recent trends of Prelims questions
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