A $35 million debt-for-nature swap designed to protect and restore Indonesia’s highest priority coral reef systems has been closed. This debt-for-nature swap marks the first time the Tropical Forest and Coral Reef Conservation Act will be used to drive funding specifically to coral reefs.
The financing agreement, announced in July 2024, was between the United States of America, the Republic of Indonesia and several non-governmental organizations including Conservation International, Yayasan Konservasi Cakrawala Indonesia, Yayasan Konservasi Alam Nusantara and The Nature Conservancy.
It will benefit the conservation of two of the most biologically diverse reefs on the planet – the Bird’s Head and Lesser Sunda-Banda seascapes, home to turtles, sharks, whales and dolphins as well as hundreds of coral species. These underwater networks of sea life not only help keep the coral reefs and greater ocean healthy, they provide food security, storm surge protection, livelihoods and economic opportunity for the region.
This effort will also benefit the Indigenous Peoples and local communities that rely on healthy coral reef ecosystems for sustenance and livelihoods.
