Updated By: LatestGKGS Desk
Seychelles released the world's first Blue Bond
Seychelles has released the world's first Blue Bond, aimed at promoting marine and fishing projects.
15 million dollars by international investors have also been given through this bond.
Through this bond, any country can collect money from any kind of capital market for finance for the continuous use of maritime resources.
Under this, grants will also be provided through the Blue Grants Fund.
This fund will be managed by the Seychelles Conservation and Climate Optimization Trust.
Through this bond, any country can collect any kind of capital market for the continuous use of maritime resources.
The bond will get investment from both government and private sources.
Through this bond, Seychelles will be helped to ensure sustainable fisheries.
Blue Bond issued by Seychelles is guaranteed $ 5 million by the World Bank.
In addition to the above, it has also provided a concessionary loan of five million dollars from the Global Environment Facility.
At least $ 12 million of the income received through this bond will be allocated in the form of low-interest loans to the local fishermen communities, while the balance will be used for funding for the research of sustainable soil projects.
The Seychelles Development Bank (DBS) will manage this fund.
Indonesia and other insular countries can use the Blue Bond structure released by Seychelles as a model for taping the bond market for financing sustainable fisheries and marine projects.
Grants will also be provided through the Blue Grants Fund.
This fund will be managed by the Seychelles Conservation and Climate Optimization Trust.
