Appleby Acts On Landmark Seychelles Environmental Deal

Seychelles Government makes a commitment to enhance marine conservation and climate adaptation in the first of its kind debt-swap deal agreed between the Government of Seychelles and its Paris Club creditors.

The debt, to be bought back by Seychelles from the Paris Club at a discount-to-face-value under the terms of an unprecedented agreement, will be converted into new Government of Seychelles debt to be issued to the newly created Seychelles Conservation and Climate Adaptation Trust (SeyCCAT). Over a 20 year period, the proceeds of this debt will be used to: (i) finance marine conservation and climate adaptation in the Seychelles; (ii) capitalise an endowment to finance work in the future; and (iii) repay impact investors.