World Bank to launch debt-for-development swap program for nations facing liquidity challenges.

The World Bank plans to launch its first debt-for-development swap initiative in the coming weeks, aimed at assisting nations facing liquidity challenges. The program will allow countries to restructure debt, thereby reducing servicing costs and redirecting funds towards development and education projects. This initiative, which includes debt swaps for social and environmental purposes, emphasizes oversight to ensure funds are used effectively in priority areas.

October 25, 2024
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