Seychelles Swaps Debt in Return for Creating Marine Reserve

Mired in debt, threatened by climate change, the Seychelles last month pulled off a deal to tackle both in what officials say could be a template for future efforts to protect the planet.

The government struck agreement with the influential Paris Club of creditors, who agreed to cancel US$30 million of debt if the country launched a massive ocean conservation project.

In exchange for the debt relief, the Seychelles has agreed to ensure 30% of its 1.3 million square kilometres of sea become the Indian Ocean’s second largest marine reserve.

“We are 155 small islands, but we are a large ocean state,” Seychelles ambassador to the UN, Ronnie Jumeau, told Climate Home.

http://www.climatechangenews.com/2016/01/04/seychelles-dodges-debt-hole-with-pledge-to-protect-oceans/

Didier Baertschiger

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