US, Indonesia Sign $35 Million Coral Reef Debt Swap Agreement

The agreeement marks the fourth ‘debt-for-nature swap’ deal the two countries have signed since 2009.

Initiatives funded by the debt-for-nature deal will support coral reef conservation activities in Indonesia. Undated file photograph. Damsea/Shutterstock

The United States has signed a deal to forgive $35 million of Indonesia’s debt in exchange for the Southeast Asian country committing to preserving its coral reef ecosystems, the U.S. Treasury Department said on July 8.

The debt-for-nature swap will redirect funds that Indonesia had initially earmarked for debt repayment to the United States into initiatives aimed at supporting coral reef ecosystem conservation activities.