SEYCHELLES PROTECTS AN AREA ‘AS BIG AS BRITAIN’ IN INDIAN OCEAN
Seychelles and The Nature Conservancy agreed to what may be the first debt swap for a marine protection area. As a result of this agreement, 210,000 sq. km (81,000 sq. mi) of ocean are protected in exchange for paying off some of the nation’s debt. To minimize further damage to marine resources, the reserves limit tourism and fishing activities in Seychelles. The nation will direct future national debt payments into a new trust, the Seychelles Conservation and Climate Adaptation Trust (SeyCCAT). The trust offers lower interest rates on debt repayments and savings will fund new marine protection projects related to climate change. For the full story, see http://www.bbc.com/news/world-africa-43154686.