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Marc Jones - 1 Rachel Savage - 1 Gerauds Wilfried Obangome - 1 Karin Strohecker - 1 Ed Osmond - 1 Tomasz Janowski - 1
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Search resuls for: "Marc Jones Rachel Savage"


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☆ Gabon launches tender for Africa's first debt-for-nature swap
  + stars: | 2023-07-25 | by ( Marc Jones Rachel Savage | Marc Jones | Rachel Savage | ) www.reuters.com   time to read: +2 min
LONDON/JOHANNESBURG, July 25 (Reuters) - Gabon launched what is set to be Africa's first debt-for-nature swap on Tuesday, with a plan to buy up at least $450 million of its government debt and switch it to an eco-friendly blue bond. The February 2031 maturity rose 2.203 cents to 83.702 cents and November 2031 maturity jumped 2.129 cents to 83.573 cents, compared to Gabonese government's offer to buy back the bonds for 85 cents per $1 of the bond. ,The 2025 maturity rose 1.194 cents to 95.4 cents, also still below the offer price of 96.75 cents.. Ecuador pulled off a record $1.1 billion debt-for-nature swap in May, freeing up $18 million annually for the next 20 years for conservation of the Galapagos Islands. The African Development Bank and European Investment Bank are interested in providing credit guarantees.
Persons: Marc Jones, Rachel Savage, Gerauds Wilfried Obangome, Karin Strohecker, Ed Osmond, Tomasz Janowski Organizations: London Stock Exchange, Republic, Industry, U.S . International Development Finance Corporation, African Development Bank, European Investment Bank, Bank of America, Thomson Locations: JOHANNESBURG, Gabon, Gabonese, Ecuador, Belize, Galapagos, Sri Lanka, Indian, Libreville
☆ Zambia received 'debt-for-nature' proposal from WWF for $13 bln restructuring
  + stars: | 2023-01-18 | by ( Marc Jones Rachel Savage | Marc Jones | Rachel Savage | ) www.reuters.com   time to read: +4 min
Zambia has become a test case for the G20-led 'Common Framework' restructuring vehicle launched during the COVID-19 pandemic, but differences with some of its main creditors about the debt relief required means progress has been slow. Its vast swathes of national parks are home or migration routes for some of Africa's most impressive wildlife including lions and elephants. "We will be considering all debt restructuring options that are in the framework (G20 Common Framework)which falls within the DSA (debt sustainability analysis) parameters... and that are acceptable to all parties," the ministry's response added. KAZA conservation areaCOMMON FRAMEWORKWWF's Zambia country head, Nachilala Nkombo, told Reuters that the most recent talks with the government took place last month. Sri Lanka, another Common Framework restructuring country, has said that it would like to do a debt-for-nature swap and with Zambia still hoping to wrap up its deal this year it would likely set a precedent.
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