- Indian Ocean archipelago Seychelles has raised $15 million by offering the world’s first blue bond.
- The objectives of this blue bond are to finance ocean-based projects, to expand its marine protected areas and boost its fisheries sector.
- Seychelles ’s economy is dependent on the ocean and on fisheries for food, nutrition and livelihoods, marine habitats, and other blue economy sectors like tourism.
- The 10-year bond was sold directly to three social impact investors based in the United States.
- It has fewer than 100,000 population, and the country mainly relies on tourism and fishing for revenue.
- Seychelles, rich in underwater reefs and postcard-perfect beaches, defaulted on its debt in 2008 and clawed its way back to prosperity with assistance from the International Monetary Fund.
