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Blue Finance

Development Bank of Seychelles Blue Finance

Blue Finance

INVESTING IN SUSTAINABLE FISHERIES FOR A THRIVING BLUE ECONOMY

Funding the Future of Seychelles' Fisheries - Together, Let's Preserve Our Oceans and Empower Communities

The Seychelles is facing increasing evidence that the ocean’s natural capital is being depleted as a result of unsustainable economic activity including fisheries. A transition to sustainable fisheries is vital for ensuring that we continue to enjoy social, economic and cultural benefits from our natural capital. Sustainable fisheries will provide for our present and future needs, while also conserving fish populations and their habitats and marine ecosystems. Securing the rights of fishers to access fisheries resources is a key element in achieving sustainable fisheries.

Why do we need a transition to sustainable fisheries?

Discovering the Reasons Behind the Need for Sustainable Fisheries

A Pillar of the Economy

The fisheries sector is a major pillar of Seychelles economy

Employment

17% of the total population is employed in the fisheries sector

The Export Potential

An impressive 96% of our exports thrive in the form of fish and fish products

Local Consumption

Fish is critical to our diet. Seychelles consuming approximately 57 kg per person each year is among the world’s highest

Diet

Our local diet is shifting from fish to less healthy sources or protein, which can lead to nutrition and health issues, including obesity and diabetes

Cultural Identity

Fisheries are integral to nurturing cultural identity, upholding cherished traditions, and fostering holistic societal wellbeing in our communities

Fish Stock

The main fish stocks have declined by more than 60% in the last three decades, which has resulted in a loss of income for fishers

Implementing the Plan

Fisheries management plans must be implemented to rebuild our fish stocks and the livelihoods of fishers that depend on these resources

Sustainability

Fishing fleets have continued to grow and now exceed sustainable levels. There is a need to invest in more sustainable fishing for Seychelles

We seek your assistance in ensuring the sustainability of our fisheries. Recognizing the need for a more conscientious approach, both the private sector and civil society play crucial roles. However, fulfilling these roles requires a shift in fisheries’ business practices. Conventional approaches fail to address the ecological and socioeconomic impacts, leading to declining profitability. Businesses that prioritize positive environmental and social outcomes alongside economic gains are now pivotal partners in our transition to sustainable fisheries. We support non-governmental organizations in developing local solutions, fostering partnerships, and sustainable value chains for managing marine resources.

Blue Finance

Blue Finance is a source of funds for Seychellois who want to invest in the transition to sustainable fisheries. In its objective of education, it will be a voice for sustainable fisheries, ocean protection and Blue Economy. It is a vehicle to finance sustainable fisheries, ocean protection and the Blue Economy. Together, DBS and SeyCCAT are working in partnership to disburse loans and grants, respectively.

Positioning

Blue Finance’s mission is to finance projects and businesses related to sustainable fisheries in doing business consciously to transform the Seychelles seafood market to a sustainable basis. Sustainable fisheries’ mission is to provide social, economic and cultural growth from fisheries for our present and future needs, while also conserving fish populations and their habitats and ecosystems.

Mission

Blue Finance vision is of the Seychelles’ oceans teeming with life, and seafood supplies safeguarded for this and future generations.

Vision

Objectives

Working in partnership with ‘You’, the people of Seychelles, Blue Finance enables us all to meet the objectives

  • Support the design and implementation of sustainable-use marine protected zones
  • Empower the fisheries sector with robust knowledge and capacity to improve governance, sustainability, value and market options
  • Nurture new business models to secure the sustainable development of Seychelles’ fisheries

Partners of Blue Finance

Our Partners

Thanks to the partnership between Government of Seychelles, SeyCCAT and DBS, Blue Finance funds are available for projects that aim to support a transition to sustainable fisheries

The Blue Grants Fund ($3 million) will be administered by the Seychelles Conservation & Climate Adaptation Trust (SeyCCAT). SeyCCAT is an independent, nationally based, public-private trust fund, established through the Conservation and Climate Adaptation Trust of Seychelles Act of 2015. Their vision is for Seychelles’ ocean and islands to be stewarded by the people of Seychelles, generating sustainable benefits for future generations to share.

The Blue Investment Fund ($12 million) will be administered by the Development Bank of Seychelles (DBS). DBS is a national development financing institution with a specific mandate to assist in the economic development of the Seychelles.  DBS’s mission is to provide affordable financing for sustainable investments in diversified and emerging sectors.