Seychelles concludes debt buyback of USD21m - 9 March 2016
Seychelles has successfully concluded the financial part of a debt buyback deal announced at UNFCCC COP21 Paris allowing Seychelles to go ahead with its plans for marine conservation and climate change adaptation works, the finance minister The Hon. Jean Paul Adam announced on Tuesday.
The debt for adaptation swap was supported by The Nature Conservancy through GLISPA. As a priority of the GLISPA 2030 Strategy, the partnership will focus on expansion of the debt for adaptation swap to targeted indebted Small Island Developing States. The debt for adaptation swaps presents an opportunity to use instant payday loan, an innovative mechanism to finance implementation of marine spatial plans and increase the resilience of island nations most susceptible to the impacts of climate change through improved management of coasts, coral reefs, and mangroves.
See article from Seychelles New Agency