• Latest
Debt Swapping Deal for Caribbean

Debt Swapping Deal for Caribbean

7 years ago
Ariza Credit Union Job Vacancy

Ariza Vacancy: Executive Manager, HR & Administrative Services

1 day ago
PM’s address to United Nations General Assembly

PM’s address to United Nations General Assembly

2 days ago
Island nations launch new declaration at AOSIS Leaders Meeting

Island nations launch new declaration at AOSIS Leaders Meeting

2 days ago
Osteologist assists GNM with study of human remains

Antony O’Hannan: Grenada’s Rebel Priest

2 days ago
GTA announces Virgin Atlantic third flight to Grenada

GTA announces Virgin Atlantic third flight to Grenada

2 days ago
Grenada and Republic of Ireland establish diplomatic relations

Grenada and Republic of Ireland establish diplomatic relations

2 days ago
Grenada and Republic of Kenya establish diplomatic relations

Grenada and Republic of Kenya establish diplomatic relations

2 days ago
American citizen services outreach to Carriacou  

Employment opportunity: Accountant

2 days ago
Tropical Weather Outlook: Friday, 22 September 2023 (2 pm)

Tropical Weather Outlook: Friday, 22 September 2023 (2 pm)

2 days ago
Enhancing solidarity and moving forward together

Enhancing solidarity and moving forward together

2 days ago

PM to attend 78th United Nations General Assembly

3 days ago
Grenada and Kingdom of Bahrain establish Diplomatic Relations

Grenada and Kingdom of Bahrain establish Diplomatic Relations

3 days ago
NOW Grenada
  • Front Page
  • Categories
    • General News
      • All
      • Agriculture & Fisheries
      • Arts & Culture
      • Business
      • Education
      • Environment
      • Health
      • History
      • Lifestyle
      • Law
      • Politics
      • Technology
      • Travel & Tourism
      • Weather
      • Youth
    • Sports
      • All
      • Athletics
      • Cricket
      • Football
      • Watersports
    • Community
      • All
      • Tribute
    • Crime
    • Features
      • All
      • Today in History
    • Opinion/Commentary
    • Press Releases
      • All
      • Advertisements
      • Notices
  • Video
  • Notices & Vacancies
  • Advertise
  • Contact Us
No Result
View All Result
  • Front Page
  • Categories
    • General News
      • All
      • Agriculture & Fisheries
      • Arts & Culture
      • Business
      • Education
      • Environment
      • Health
      • History
      • Lifestyle
      • Law
      • Politics
      • Technology
      • Travel & Tourism
      • Weather
      • Youth
    • Sports
      • All
      • Athletics
      • Cricket
      • Football
      • Watersports
    • Community
      • All
      • Tribute
    • Crime
    • Features
      • All
      • Today in History
    • Opinion/Commentary
    • Press Releases
      • All
      • Advertisements
      • Notices
  • Video
  • Notices & Vacancies
  • Advertise
  • Contact Us
No Result
View All Result
NOW Grenada
No Result
View All Result

Debt Swapping Deal for Caribbean

This story was posted 7 years ago
23 May 2016
in Business, Environment, General News
2 min. read
Rob Weary
Share

by Linda Straker

An initiative of The Nature Conservancy can see at least 3 Caribbean countries engaging in “debt swapping” that can work in the interest of nature or projects aimed at sustainable developments.

According to Rob Weary of the Nature Conservancy, through the initiative, millions of dollars will be redirected to the islands, and all that will be required is for them to divert that money to environmental projects through the territory’s sustainable development programme.

Nature Conservancy has already successful negotiated millions for the Seychelles Island, and as a result, other islands approached them for similar deals. After present, negotiations are ongoing for 6 territories, 3 of which are for the Caribbean islands of Grenada, St Kitts, and Jamaica.

Explaining that debt swapping is not debt forgiveness, but rather debt redirection, Weary who is a financial specialist at TNC said that through the initiative, his organisation will negotiate to have the debt purchased by a third party, which will then be transferred to a trust established in accordance with the relevant national law.

“So for example, instead of Grenada making payment to the external creditor, they will now make payment to the internal trust and the money will be used for environmental based developmental programmes,” he said while explaining that his organisation will raise the capital to transfer the debt to the trust.

Through monitoring, once the Government of the participating state is abiding with the agreement of the “swapping deal” the debt will be totally wiped out, and there will be more developmental programmes in the participating territories.

Weary disclosed that his organisation is close to finalising a deal for St Kitts that will provide for the swapping of almost EC$29 million, but was tight-lipped about the other islands.

NOW Grenada is not responsible for the opinions, statements or media content presented by contributors. In case of abuse, click here to report.
Tags: debt swappingdevelopmentfinancelinda strakernature conservancytnc
Next Post
Closure: St George’s Health Centre

MOH Pharmacy Services Temporary Closure

© NOW Grenada. All Rights Reserved. Published by Aqua Design Inc. | Terms of Use | Privacy Policy

No Result
View All Result
  • Front Page
  • Categories
    • General News
      • All
      • Agriculture & Fisheries
      • Arts & Culture
      • Business
      • Education
      • Environment
      • Health
      • History
      • Lifestyle
      • Law
      • Politics
      • Technology
      • Travel & Tourism
      • Weather
      • Youth
    • Sports
      • All
      • Athletics
      • Cricket
      • Football
      • Watersports
    • Community
      • All
      • Tribute
    • Crime
    • Features
      • All
      • Today in History
    • Opinion/Commentary
    • Press Releases
      • All
      • Advertisements
      • Notices
  • Video
  • Notices & Vacancies
  • Advertise
  • Contact Us

Copyright NOW Grenada

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in . Visit our Privacy Policy | Terms of Use.

Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Visit our Privacy Policy | Terms of Use.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.