African Legal Support Facility Hosts Thematic Debt Swaps Workshop to Strengthen Africa’s Debt Resilience

Marrakech, Morocco – 10 October 2025

The African Legal Support Facility (ALSF) successfully hosted its Thematic Debt Swaps Capacity Building Workshop  from 23 to 26 September 2025 at the Radisson Blu Hotel, Carré Eden, Marrakesh, Morocco.

Held under the theme “Transforming Debt into Opportunity: Thematic Debt Swaps for Africa’s Future,” the four (4)-day workshop brought together over 40 senior government officials from 22 African countries, alongside experts from development partners and legal, technical and financial institutions. The event provided a platform to explore how debt swaps as an innovative instrument can help ease fiscal pressures while channeling resources toward sustainable national development priorities.

The ALSF team, led by Olivier Pognon, Director and CEO of the ALSF, and including Nicole Kearse, Principal Legal Counsel and Head of Sovereign Finance, Mariame Bah, Senior Legal Counsel and Regional Coordinator for North and Central Africa, Mariam Masini, Legal Counsel and Regional Coordinator for Lusophone Africa and Alain-Stéphane Moulot, Sovereign Finance Capacity Building Officer, delivered presentations, facilitated discussions, and shared the ALSF’s experience in supporting African countries to structure complex debt and financing transactions.

In his opening address, Mr. Pognon highlighted the urgent need for innovative debt solutions adapted to Africa’s realities, noting: “Africa’s development requires innovation, resilience, and collaboration. Thematic debt swaps are not silver bullets, but they are an important tool. If we seize the opportunities wisely, they can help reduce debt vulnerabilities while unlocking investments that will shape a more sustainable and inclusive future”.

The workshop featured 16 sessions structured around four thematic blocks:

• Setting the Stage for Debt Swaps: An overview of Africa’s debt landscape, debt sustainability challenges, and innovative financing instruments, with insights from the ALSF, African Development Bank’s Governance and Economic Reforms Department, Baker McKenzie LLP, Catholic Relief Services, Gates Foundation, and the Lazard Sovereign Advisory Group.
• Legal and Financial Structuring of Debt Swaps: Technical deep dives into the design, negotiation, and implementation of thematic debt swaps, with sessions led by the ALSF, Alevina & Partners, BGH Consulting, Potomac Group LLC, the Global Fund and SJS Advisors, with pertinent observations from Barbados, the Commonwealth Secretariat, and White Oak Advisory.
• Country Perspectives and Case Studies: Practical experiences from Cape Verde, Côte d’Ivoire, Gabon and the World Food Programme, showcasing debt-for-nature, debt-for-education and debt-for-health transactions with further contributions from the African Development Bank’s Syndication, Co-financing and Client Solutions Department, Catholic Relief Services, Global Sovereign Advisory, Hunton Andrews Kurth LLP, and the World Bank.
• Interactive Learning: Simulation exercises on debt swap negotiations, followed by a certificate ceremony celebrating participants’ achievements.

Participants expressed strong satisfaction with the workshop’s relevance and quality, emphasizing the value of practical sessions, peer exchange, and technical discussions. The event fostered a shared understanding of how debt swaps can serve as viable instruments for achieving fiscal sustainability and advancing social, environmental, and economic priorities.

The ALSF reaffirmed its commitment to empowering African governments through capacity building, legal and financial expertise, and innovative debt management solutions that strengthen resilience and promote sustainable development across the continent.

 

About the ALSF

Established by the African Development Bank in 2008, the ALSF assists African governments in negotiating complex commercial transactions, providing legal and technical assistance and developing capacity building tools in the key sectors of infrastructure and public-private partnerships, energy, natural resources and extractive industries, as well as on sovereign debt and creditor disputes.

 

Contact us

Eve Ehoura, Communication Officer: e.ehoura@afdb.org

ALSF Website: https://www.alsf.int