Can debt-for-nature swaps unlock Africa’s financing gap amid rising borrowing costs?

• Three African nations eye $500mn swaps
• Rising borrowing costs boost deal appeal

NAIROBI, KENYA – Three African countries are negotiating debt-for-nature swaps worth over $500 million, as rising borrowing costs push governments to seek alternative financing tied to environmental protection.

The Nature Conservancy (TNC) said the deals could convert portions of sovereign debt into binding commitments to protect ecosystems, with one agreement expected to close this year and two more by 2027.