Barbados frees up $125 million via ‘debt-for-climate swap’

LONDON (Reuters) – Barbados has completed the world’s first debt-for-climate swap aimed at raising money to help the Caribbean island build resilience to the damaging effects of climate change. By buying back more expensive existing debt, Barbados has freed up around $125 million to finance water and sewage projects resilient to climate change, its government said on Monday. (Reporting by Virgina Furness, editing by Samuel Indyk) Disclaimer: This report is auto generated from the Reuters news service.

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