World Bank: $20 Million for Seychelles’ Sustainable Fisheries and Marine Resources Conservation

The World Bank approved a package of over $20 million for the Republic of the Seychelles to improve the conservation of its marine resources and expand seafood value chains. The package consists of a loan of $5 million from the International Bank for Reconstruction and Development (IBRD) and a grant of $5.29 million from the Global Environment Facility (GEF). In addition, a guarantee of EUR5 million from the IBRD and a credit of $5 million from the GEF’s Non-Grant Instrument Pilot will enable the future issuance of the world’s first Blue Bond by Seychelles. The Blue Bond is expected to mobilize public and private investments to finance the country’s transition to sustainable fisheries. More information on this package is available here.