Seychelles Blue Economy
Seychelles Blue Economy Vision
Launched in 2014 to promote ocean based sustainable and resilient development as a pathway to Seychelles’ shared prosperity, the initiative focuses on the sustainable use of its coastal and ocean environments including fisheries and tourism, economic diversification, food security, and the protection of its unique natural assets for the benefits of all Seychellois.
Designated 30% of the coastal zone as marine protected areas by 2020, based on a marine spatial planning process undertaken across the entire 200 nautical mile Exclusive Economic Zone.
Leveraged more than US$ 20 million through world’s first debt-for-adaptation-swap that contributed to capitalising an endowment of US$ 6.6 million.
Established the Seychelles Conservation & Climate Adaptation Trust (SeyCCAT) that will competitively grant at least US$ 750,000 per annum to support the blue economy.
Transitioning to sustainable artisanal fisheries from open access to rights based management over 10 years and strengthening value chain benefits and local investment
Raising a sovereign blue bond of 15 million over 10 years, with GEF and World Bank guarantees complemented by additional US$ 10.3 million in WB and GEF Loan and grants and
Establishing a blue grant and a blue investment funds to be disbursed annually by SeyCCAT and the Development Bank of Seychelles.
Rebecca Loustau Lalanne, Office of the Vice-President, Government of Seychelles