Kenya eyes debt-for-nature swaps to construct water dams
An aerial view of Thiba Dam in Kirinyaga, Kenya. Kenya is considering debt-for-nature or climate swaps to unlock funds for building water dams. PHOTO | COURTESY
Kenya is considering debt-for-nature or climate swaps to unlock funds for building water dams amid a cash crunch that has risks derailing spending on key development projects.
Debt-for-nature or climate swaps are financial deals that typically allow a country to restructure its debt at a lower interest rate or longer maturity, with the proceeds being allocated to conservation or green projects.
