Political Risk and Parametric Catastrophe Insurance in relation to a Blue Bond for Ocean Conservation in Belize

$610 million in political risk insurance enabled a $364 million Blue Bond for Ocean Conservation in Belize. This will generate an estimated $180 million over 20 years to invest in marine and biodiversity protection and promote climate resilience in Belize’s blue economy. The debt swap also introduced parametric catastrophe insurance to Belize’s external debt stock at a cost of about US$800,000 per year on average for Belize.