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The Independent UK
The Independent UK
National
Dnica Coto

The Bahamas will refinance part of its debt to protect its famous turquoise waters

Bahamas The Nature Conservancy Climate Change The Associated Press
Bahamas Marine Protection - (Copyright 2019 The Associated Press. All rights reserved.)

The Bahamas announced Friday that it will refinance $300 million of its external debt to free up more than $120 million for marine conservation projects and climate change mitigation.

It is the fifth such debt-for-nature swap in the world, with the Bahamian government signing the deal with The Nature Conservancy, the Inter-American Development Bank and other financial partners.

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