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Will Sri Lanka opt for debt-for-nature swap deal? - newsfirst.lk - Sri Lanka - county Will - Ecuador - Cape Verde - Seychelles
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Will Sri Lanka opt for debt-for-nature swap deal?
COLOMBO (News 1st) – Countries with large debt burdens are losing even more capital due to climate shocks, and shrinking their fiscal space, and these countries are now looking for other options to ease their burden.Some of these countries are now opting to switch to a debt-for-nature swap deal, which is an arrangement whereby a foreign debt owed by a developing country is transferred to a particular organization, typically in return for the country's committing itself to specified conservation measures.These can be trumped up countries, including Sri Lanka, which has been discussing a deal of up to $1 billion according to people familiar with those talks.Cape Verde, an archipelago nation off West Africa, is meanwhile close to a nature swap that could be worth up to $200 million, said Jean-Paul Adam, a former Seychelles government official who now works for the U.N. Economic Commission for Africa (UNECA), providing financing advice to governments.The potential deals for Ecuador, Sri Lanka and Cape Verde, reported here in detail for the first time, point to a jump in interest for this form of financial alchemy, which was conceived decades ago but has remained something of a niche area until recently.Only three of over 140 or so swaps struck over the past 35 years – the first in 1987 – had a value of more than a quarter of a billion dollars, according to global data published by the African Development Bank.
Kids given shock treatment by cops; NCPA probe underway - newsfirst.lk - Sri Lanka
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Kids given shock treatment by cops; NCPA probe underway
COLOMBO (News 1st) – The National Child Protection Authority has launched a separate investigation into an incident where grade 5 students from a school in Millaniya were brutally beaten for allegedly stealing money from a school teacher.Several Grade Five students from the Millaniya Primary School in Horana were accused of stealing money from the bag of a school teacher and were punished by the school teachers, and the teachers themselves handed over the students to the local police.Parents allege that students were taken away by police intimidated by electric shock treatment inside the Police Jeep, and dropped back at the school.Two boys told News 1st that the police officers took them away in a jeep and threatened them with electric shocks to reveal the truth, and thereafter dropped them back at school.News 1st contacted the Chairman of the National Child Protection Authority Udaya Kumara over these allegations he said the local Judicial Medical Officer confirmed the boys were tortured."Based on the facts, the National Child Protection Authority has considered this a serious offence. Any wrong committed by a child below the age of 12, according to Sri Lankan law, cannot be considered a crime," he said.The NCPA Chairman also told News 1st that on Tuesday (8) the police officers in question, the principal and the teachers have been summoned to the National Child Protection Authority to record their statements. "We will also produce them in court on Tuesday (8).
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