In November 2021, The Nature Conservancy (TNC) and the Government of Belize (Belize) announced the completion of a USD 364 million debt conversion for marine conservation that reduced Belize’s debt by 12 percent of GDP, created long-term sustainable financing for conservation, and locked in commitment to protect 30% of Belize’s ocean, in addition to a range of other conservation measures. The transaction is the world’s largest debt refinancing for ocean conservation to date.
