Spain and World Bank Launch Debt-Swap Hub

Spain and the World Bank are working together to help countries manage their debt.

They created a hub to help countries swap their existing, more expensive loans for cheaper ones.

This frees up money for important projects such as protecting the environment and providing food.

Debt swaps work by helping countries refinance their debt at cheaper rates in exchange for spending the savings on social or environmental projects.

However, some think this approach can be difficult and time-consuming.