Blue Bonds for Ocean Conservation project in Barbados will conserve 30% of marine and coastal environments
The Government of Barbados, The Nature Conservancy, and the InterAmerican Development Bank have collaborated to complete a debt conversion transaction as part of a Blue Bonds for Ocean Conservation project that will unlock significant funding for marine conservation over the next 15 years in Barbados. As part of the project, Barbados is committing to protect and effectively manage up to 30% of the nation’s ocean, specifically the Exclusive Economic Zone and Territorial Sea (more than 55k square km).This is a win for the people of Barbados, and for the country’s ecosystems.
Blue Bonds are a highly innovative and powerful tool for helping nations to refinance burdensome debt levels while at the same time step changing their progress on marine conservation goals. Becht Foundation supports Blue Bonds for Ocean Conservation initiative because of the global potential of this approach, and the ‘win-win’ they offer for the economy, communities and biodiversity.” Find out more
