As Government seeks to enter into a debt-for-nature swap to help fund marine conservation efforts, lawmakers are giving the assurance that it will not cost taxpayers a cent.Minister in the Ministry of Finance Ryan Straughn explained that the debt swap arrangement, which is being entered into with CIBC FirstCaribbean and Credit Suisse International at BDS$150 million each, was to allow government to buy back a portion of its existing debt at a lower interest rate - both Eurobonds and Series E bonds.He said that it is the interest payment saved that would be diverted to the Barbados Environmental and Sustainability Fund over the next 15 years for the marine conservation plans.This is being made possible with a guarantee by the Inter-American Development Bank for up to $200 million and The Nature Conservancy for up to $100 million.“This will not impact the budget of the Ministry of Environment,” Straughn assured Tuesday’s sitting of the House of Assembly.
