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Seychelles Plans Blue Bonds to Develop Sustainable Fisheries

  • Government planning initial sale of $10 million this year
  • Securities modeled on green bonds, target impact investors
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Seychelles, an Indian Ocean archipelago off the East African coast, plans to offer so-called blue bonds, which fund the development of sustainable fisheries, to investors later this year.

The country’s Treasury is in talks with multilateral agencies including the African Development Bank and the World Bank to facilitate the sale of $10 million of the government-backed debt, Finance Minister Jean-Paul Adam said in a phone interview Jan. 22 from the capital, Victoria. The securities are modeled on green bonds, which channel their proceeds to projects that save energy, curb pollution and recycle resources.