CURRENT AFFAIRS

Detailed explanation-1: -In 2018, the Republic of Seychelles launched the world’s first sovereign blue bond.

Detailed explanation-2: -The blue bond forms an integral part of the financing for a $25.3 million project by the government of Seychelles, called the Third South West Indian Ocean Fisheries Governance and Shared Growth Project. “Leveraging several funding sources generates scale for project impacts and reduces overall risk,” said Robinson.

Detailed explanation-3: -The Republic of Seychelles launched the world’s first sovereign blue bond to support its sustainable marine and fisheries projects. The bond, structured in collaboration with The World Bank, demonstrates the potential for countries to harness capital markets for financing the sustainable use of marine resources.

Detailed explanation-4: -Then, in September last year, Bank of China’s Paris and Macau branches, respectively, issued $500m in three-year blue bonds and $442.5m in two-year blue bonds, while Qingdao Water Group inked a $46.4m issue in November 2020. When the ADB issued its blue bond last month, Japanese insurance firms jumped in.