FILE PHOTO: Spanish Minister of Economy, Trade, and Enterprise Carlos Cuerpo participates in a media interview at the International Monetary Fund (IMF) and the World Bank Group 2024 Fall Meeting in Washington, U.S., October 23, 2024. REUTERS/Kaylee Greenlee Beal/File Photo
LONDON (Reuters) -Spain has partnered with the World Bank to help countries free up money to spend on sustainable development projects via debt swaps, the country's Ministry of Economy said on Tuesday.
With rich governments cutting official development aid and many countries spending more on servicing debt than on development, nations are turning to creative ways to find cash to support projects ranging from protecting coral reefs to paying for water sanitation projects and schools.
