Reports from the International Monetary Fund or El Salvador's Ministry of Finance

JPMorgan Structures $1 Billion Deal for El Salvador's Debt Refinancing and Lempa River Conservation

Oct 17, 2024, 05:05 PM

JPMorgan has structured a $1 billion deal for El Salvador, equivalent to roughly 14% of its debt, in an arrangement that allows the country to refinance a portion of its debt and help fund the conservation of its wetlands. A major debt conversion initiative has been successfully completed in El Salvador to support the conservation of rivers. The United States, through the International Development Finance Corporation (DFC), and El Salvador will work together on a debt conversion program that will benefit the Lempa River. This effort, involving multiple organizations, marks a significant milestone in the country's efforts to protect its natural resources. El Salvador has closed the world’s largest debt buyback for river conservation.