Reported about 1 month ago
The World Bank is set to launch its inaugural debt-for-development swap in the coming weeks, aimed at assisting countries facing liquidity challenges. Vice President Jorge Familiar indicated that the initiative will re-profile existing debts to reduce servicing costs and allocate funds towards vital development projects such as education and environmental efforts. This move parallels growing popularity of debt swaps, particularly for environmental purposes, and signifies a shift for the World Bank towards actively facilitating such financial strategies.
Source: YAHOO