(Seychelles News Agency) – Investors in Seychelles interested in sustainable marine activities and fisheries projects can send proposals to the Development Bank of Seychelles, said a top official at the Bank on Monday.
The first call for proposals to attract potential investors under the Blue Investment Fund was launched during a press conference organised by the Department of the Blue Economy.
The department’s principal secretary, Kenneth Racombo, said that the blue bonds — valued at $12 million — are reserved specifically for value-added fisheries projects such as aquaculture.
The bond “is also targeting projects using bycatch, which is later processed to make value-added products such as fish burger and will also make way for people who want to invest in a refrigerated truck,” added Racombo.
Seychelles, an archipelago in the western Indian Ocean, launched the world’s first sovereign blue bond to support marine projects last October. The blue bond has guarantees from the World Bank and the Global Environment Facility and is geared towards supporting the Seychelles’ transition to sustainable fisheries.