Current Affairs - State - Discussion

Republic of Seychelles launched the world's first sovereign blue bond worth US$15 million to finance sustainable marine and fisheries projects. The bond was announced at the Our Ocean Conference in Bali by the Vice-President of the Republic of Seychelles, Vincent Meriton. Seychelles is the first nation to pioneer such a financing instrument. The World Bank assisted in developing the blue bond and reaching out to the three investors: Calvert Impact Capital, Nuveen, and U.S. Headquartered Prudential Financial, Inc. Standard Chartered acted as placement agent for the bond.