A debt for nature swap is an agreement between a developing nation in debt and one or more of its creditors. Many developing nations are severely limited by huge debts they have accrued. In a debt for nature swap, creditors agree to forgive debts in return for the promise of environmental protection.

Debt for nature swaps were first established in the 1980s in the attempt of solving two problems with one agreement: 1) minimize the negative effect debt has on developing nations 2) minimize the environmental destruction that developing nations frequently cause.

The environmental promises made in such debt for nature swaps have centered around the promised protection of large areas of land such as tropical rainforests. The first case of this sort of agreement came in 1987 between a conservation group and Bolivia. The conservation group paid some of Bolivia's debt in return for the creation of a large rainforest preserve.

Other countries that have participated in debt for nature swaps include Costa Rica, Ecuador and Philippines. Enforcement of the promised conservation often serves as a stumbling block in such agreements.