Island nation announces world’s first sovereign blue bond
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Finance tools have become a popular means for promoting eco-friendly ventures. Uruguayan shoe brand MAMUT, for example, accepts plastic bottles as payment to encourage local beach clean-ups. Similarly, Caaapital is an online platform that connects investors with renewable energy projects in Latin America. The Republic of Seychelles has launched the world’s first sovereign ‘blue bond’ to finance the development of its blue economy. Planning was overseen by the World Bank and Global Environmental Facility. The blue bond is a debt instrument that taps into capital markets to fund sustainable ocean solutions. In Seychelles’ case, the USD 15 million raised will…
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