Wahyu Dwi Anggoro
IDXChannel - Indonesia, the United States (US), and leading environmental non-governmental organizations (NGOs) have signed a groundbreaking debt-for-nature swap to protect Indonesia’s precious coral reef ecosystems.
It will redirect USD35 million of Indonesia’s debt into an investment in coral reef conservation. It is the fourth agreement between US and Indonesia under the Tropical Forest Conservation Act and the first focused primarily on coral ecosystems.
“This agreement is a testament to the strong bilateral relationship between the United States and Indonesia and our continued deepening engagement under the US-Indonesia Comprehensive Strategic Partnership,” said the US Charge d’Affaires (CDA) Michael F Kleine in a media release on Tuesday (9/7/2024).
“By forgiving this debt and redirecting the funds back to Indonesia through this debt-for-nature swap, we are taking concrete action to protect Indonesia’s invaluable coral reefs and support sustainable development," Kleine added.
Indonesia is home to 16 percent of the world’s coral reef areas and approximately 60 percent of the world’s coral species.
