Portugal agrees to swap Cape Verde's debt for environmental investment
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Portugal has signed an agreement to swap Cape Verde's debt for investments in an environmental and climate fund that is being established by the archipelago nation off West Africa's coast, Portuguese Prime Minister Antonio Costa said on Monday. Such "debt-for-nature" swap deals are emerging in other countries and are part of attempts to resolve a dilemma faced by world leaders on how and who will foot the bill for actions taken to reduce the impact of climate change.