Bahamas Refinancing for Conservation
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financingABC News
•The Bahamas will refinance part of its debt to protect its famous turquoise waters
83% Informative
The Bahamas will refinance $300 million of its external debt to free up more than $120 million for marine conservation projects.
The deal involves buying back the existing debt via a new loan with reduced interest rates.
Overall, the Bahamas holds some $5.7 billion in external debt.
It is the fifth such debt-for-nature swap in the world.
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93
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