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Ecuador reaches major debt-for-nature deal to benefit Galápagos Islands

Ecuador announced a record-setting deal on Tuesday designed to reduce its debt burden and free up hundreds of millions of dollars to fund marine conservation around the Galápagos Islands, an archipelago of unique biodiversity that’s famous for inspiring Darwin’s theory of evolution.

The arrangement, known as a debt-for-nature deal, is a bit like refinancing a mortgage, only for government bonds.

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