Economic Policy, Debt and Trade (PRMET) Department Poverty Reduction and Economic Management (PREM) Network Contribution of DFN Swaps to Debt Reduction DFN swaps have involved debt reduction of about US$1 billion, and have generated the equivalent of about US$3.5 billion for conservation The nominal value of all debt-for-development swaps implemented by members of the Paris Club is US$ 5.6 billion, or 1% of the total debt cancelled by members of the Paris Club (some US$ 503 billion) DFNs have generated very significant additional funds for nature conservation but have not been an important source of debt reduction in developing countries
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