Pakistan Nears Debt-for-Nature Swap Agreement With Creditors
- Officials target June 5 announcement with bilateral lenders
- Nation previously said working on nature-performance bond
Photographer: Rakesh Bakshi/AFP/Getty Images
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Pakistan is closing in on a deal with bilateral creditors that would tie debt relief to the achievement of biodiversity goals, government officials said.
The South Asian nation is working with lender countries on a debt-for-nature swap program, which would see debt relief in return for binding commitments to achieve conservation targets. An official letter of intent could be announced as soon as World Environment Day on June 5, which Pakistan is hosting this year.