The Seychelles Debt-for-Nature Swap
Watch the full recording here!
Please join the Yale Center for Business and the Environment (CBEY) for the 2015-2016 season of Nature’s Returns: Investing in Ecosystem Services.
In this webinar, Honorable Didier Dogley of the Republic of Seychelles and Robert Weary of NatureVest will join us to speak about the recently completed Seychelles Debt-for-Nature Swap deal.
The Republic of Seychelles, a nation of 115 islands in the Western Indian Ocean, reached a major debt buyback agreement worth approximately $30 million with its Paris Club creditors and South Africa. Minister Dogley and Weary will dive into details of the the debt restructuring agreement and commitments made by the government to enhance marine conservation and climate adaptation efforts. One such effort is the establishment of a permanent endowment that generates sustainable financing for Seychelles’ marine conservation efforts. The project results in the Indian Ocean’s second largest marine reserve, improving protection for the marine resources that fuel this island nation’s thriving tuna and tourism sectors.
This project was accomplished in partnership with The Nature Conservancy’s NatureVest, the Global Island Partnership, strong political leadership from President James Michel and the Environment, Finance and Foreign Affairs Ministries of Seychelles, and a host of private foundations. It demonstrates innovative financing for marine habitat protection that can be adapted to other sites in the Western Indian Ocean region, as well as globally.
The free online event will last one hour and is open to the public. Email invitations for following Nature's Returns webinars will be sent as the dates approach. Visit the CBEY website for up-to-date information regarding these and other events.
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For more information on the debt swap:
