In a landmark moment for terrestrial and freshwater conservation, Ecuador, supported by The Nature Conservancy (TNC) and key partners including the DFC, IDB, and Bank of America, announced the financial close of a groundbreaking debt conversion on December 15, 2024. This initiative, part of TNC's Nature Bonds Program, refinanced approximately $1.53 billion of Ecuador's international bonds, generating over $800 million in net fiscal savings for the nation by 2035.

The Government of The Bahamas, The Nature Conservancy (TNC), the Inter-American Development Bank (IDB), and several financial partners launched a Nature Bonds project that will refinance USD 300 million of The Bahamas’ external commercial debt to help the country improve ocean conservation and management of its Marine Protected Areas (MPAs) to benefit biodiversity and people, and lessen the effects of climate change. 

In May 2023, the government of Ecuador completed the world’s largest debt conversion for conservation to protect the Galápagos Islands and its vibrant marine ecosystem. This innovative deal will inject a projected $450 million into marine protection and conservation over the next 18 years and includes building an endowment that will continue to provide about $12 million annually in perpetuity. The Galápagos Life Fund (GLF), a newly established nonprofit organization, will manage and oversee the endowment. Notably, this public-private partnership, which has an explicit mission of protecting the irreplaceable habitat and wildlife of the Galápagos, is led by Ecuadorians and partners who share this common goal.

In a landmark achievement for conservation finance, The Nature Conservancy (TNC) and the Government of Gabon have launched a historic $500 million "Blue Bonds" initiative—the first of its kind in Mainland Africa. This innovative financial transaction refinances a portion of Gabon's national debt, unlocking an impressive $163 million in dedicated new funding for ocean protection and management.

In September 2022, Barbados made a monumental stride in marine conservation with a $150 million debt conversion, a collaborative effort between the Government of Barbados (GoB), The Nature Conservancy (TNC), and the Inter-American Development Bank (IDB). This groundbreaking initiative secures long-term, sustainable financing for protecting up to 30% (approximately 55,000 square kilometers) of its Exclusive Economic Zone (EEZ) and Territorial Sea by 2030, aligning with global biodiversity targets.

In a groundbreaking move, The Nature Conservancy (TNC) and the Government of Belize completed a $364 million debt conversion for marine conservation in November 2021. This monumental "Blue Loan" reduced Belize's national debt by 12% of its GDP and secured long-term, sustainable funding for ocean protection.

A new chapter began for Seychelles. Recognizing its vast marine territory as key to its "Blue Economy," Seychelles partnered with The Nature Conservancy (TNC) following the 2012 Rio+20 summit. This groundbreaking collaboration aimed to use a debt-for-nature swap to conserve 30% of its Exclusive Economic Zone (EEZ), signaling a powerful shift towards ocean-focused conservation and a sustainable future for SIDS and the world. This innovative approach offers a lifeline, transforming debt into investment for a healthier planet.