I've just come across this, though it has apparently been in the works for a while.  A most welcome bit of good news!  From the report:

 

"The government of Indonesia announced this week a deal to redirect more than US$ 35 million it owes to the United States into the conservation of coral reefs in the most biodiverse ocean area on Earth. The “debt-for-nature” swap will fund coral restoration in two key areas of the Pacific Ocean’s Coral Triangle — the Bird’s Head and Lesser Sunda-Banda seascapes, which encompass three-quarters of the world’s coral species and more than 3,000 types of fish, turtles, sharks, whales and dolphins . . . "

 

Raja Ampat debt-for-nature swap

Good news! Thank you for posting.

Well if they actually do it, it would be nice. We were in Komodo over Christmas and the rangers came over to collect the park fee but didn't do anything to the illegal fishing boats 30 meters away. 

We also did Raja this trip and there was lots of bleaching in the North.  

Bill

 

Yeah, that’s always the issue with such initiatives. I hope they implement the plan and the funds go where they should.  Hopes are not enough though, and we’ve been disappointed before.  It would be very interesting to know what monitoring and enforcement provisions are in the deal.