The United States and Indonesia Sign $35 Million Debt Swap Agreement to Support Coral Reef Ecosystems

WASHINGTON - The United States of America, the Republic of Indonesia, and four non-governmental organizations (NGOs) (Conservation International (CI), The Nature Conservancy (TNC), Yayasan Konservasi Alam Nusantara, and Yayasan Konservasi Cakrawala Indonesia) signed debt-for-nature swap and coral reef conservation agreements under the Tropical Forest and Coral Reef Conservation Act (TFCCA) on July 3, 2024. When implemented, the agreements will reduce Indonesia’s debt payments to the United States Government by $35 million over the next nine years. In return, the Government of Indonesia has committed these funds to support grants to protect and restore the country’s coral reef ecosystems through the establishment of a conservation fund.