Debt-for-nature swap
8 cases in 9 countries, 2016–2025. Most cases: United States (2), Brazil (1), El Salvador (1), Bahamas (1), Ecuador (1).
Tropical Forest Forever Facility
A fund launched at COP30 in November 2025 targets 125 billion dollars to pay tropical forest countries for keeping forests standing. Its payment order puts private investors first and forest countries last.
El Salvador debt-for-nature swap
In October 2024 JPMorgan arranged and lent US$1 billion for a Lempa River programme in a debt-for-nature transaction with El Salvador, backed by political risk insurance from the US Development Finance Corporation.
Bahamas debt-for-nature swap
In November 2024 the Bahamas took part in a US$300 million debt-for-nature transaction arranged by Standard Chartered, with a partial guarantee from the Inter-American Development Bank and US$30 million of insurance from AXA XL. The Nature Conservancy was a named participant.
Galápagos debt-for-nature swap
Described as the world's largest debt conversion for marine conservation. By the end of 2025, about $3.8 million in grants had been assigned.
Gabon debt-for-nature swap
In August 2023 Gabon bought back a US$500 million bond at US$436 million and issued a US$500 million blue bond with a US cover from the DFC. The Nature Conservancy sponsored the deal; Bank of America did not disclose its fee.
Barbados debt-for-nature swap
In September 2022 Barbados refinanced about US$150 million of debt through a Credit Suisse-led transaction backed by guarantees from the Inter-American Development Bank and The Nature Conservancy. The cited sources put the conservation commitment at US$50 million.
Belize blue bond
A debt buyback tied to protecting 30% of Belize's ocean. Protection stands at 20.3%; about $6 million in grants were approved in three and a half years.
Seychelles 2016 debt-for-nature swap listed among TNC Nature Bonds
A 2016 pilot debt-for-nature swap in Seychelles is among The Nature Conservancy's Nature Bonds. The cited sources do not give the amount, the lenders or the conservation terms.
Carbon and conservation finance
- Debt-for-nature swap
- A deal in which a government's debt is bought back or refinanced at a discount, and part of the savings is committed to conservation.