Seychelles to lobby for financing for Blue Economy projects

 Seychelles will use the Blue Economy Summit platform in Abu Dhabi to lobby for financing of its US $10 million Blue Bond (a financing initiative which 

taps into capital markets to fund ocean-related environmental projects) as well as a large number of bankable projects from its private sector partners, Minister Jean-Paul Adam has said.

The minister responsible for finance, trade and the Blue Economy was speaking at the weekend before leaving to take part in the second Blue Economy Summit taking place in Abu Dhabi today.

“Financing  could be partially through loans, partial grants which could be linked to renewable energy… there are opportunities for us to generate better financing through government institutions, as well as for the private sector,” Minister Adam noted. 

“The summit will allow us to discuss how best to deal with and carry out in an accelerated manner a lot of bankable projects that Seychelles as well as other countries will bring to the table,” Minister Adam pointed out.

Minister Adam noted that in Seychelles there are different types of fisheries projects; a first type has to do with adding value to fish, sustainable fishing methods and local investment in the fisheries sector. A second type of project includes emerging sectors like aquaculture, development of biotechnology in fishing… 

Minister Adam went on to add that, “Seychelles has a traditionally great relationship with the sea through its large number of fishermen entrepreneurs whom we are trying to empower to invest in sustainable fishing and in value- added products for the export market”.

Minister Adam said Seychelles with its partners at the summit expects to put in place modalities that best support how to use the Blue Economy to fight climate change.

“Climate change affects the economies of all countries but even more so those of small island states and vulnerable coastal countries,” Minister Adam pointed out.

“The blue economy is one of the best ways in which we can invest in economic development which simultaneously fight climate change,” Minister Adam explained.

He noted that in the context of Seychelles, the last two to three years were spent pushing the development of the  Blue Economy concept so the country could get the means in terms of investments and support to allow this to really take-off.

The first major international meeting after the COP21 in Paris late last year, the second Blue Economy Summit under the theme ‘One Ocean One Future’ will provide the opportunity to talk about the modalities and put in place financing mechanisms for projects in developing countries like ours to develop the blue economy and consequently fight climate change, Minister Adam said.

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