Process
The financing mechanism for debt-for-nature swaps is an agreement among the funder(s), the national government of the debtor country, and the conservation organization(s) using the funds. The national government of the indebted country agrees to a payment schedule on the amount of the debt forgiven, usually paid through the nation’s central bank, in local currency or bonds. The process is shown in Figure 1. Participation in debt-for-nature swaps has been restricted primarily to countries where the risk of default on debt payments is high. In these circumstances, the funder can purchase the debt at well below its face value.
Read more about this topic: Debt-for-nature Swap
Famous quotes containing the word process:
“... geometry became a symbol for human relations, except that it was better, because in geometry things never go bad. If certain things occur, if certain lines meet, an angle is born. You cannot fail. It’s not going to fail; it is eternal. I found in rules of mathematics a peace and a trust that I could not place in human beings. This sublimation was total and remained total. Thus, I’m able to avoid or manipulate or process pain.”
—Louise Bourgeois (b. 1911)
“A process in the weather of the world
Turns ghost to ghost; each mothered child
Sits in their double shade.
A process blows the moon into the sun,
Pulls down the shabby curtains of the skin;
And the heart gives up its dead.”
—Dylan Thomas (1914–1953)
“Consumer wants can have bizarre, frivolous, or even immoral origins, and an admirable case can still be made for a society that seeks to satisfy them. But the case cannot stand if it is the process of satisfying wants that creates the wants.”
—John Kenneth Galbraith (b. 1908)