Progress report for
Investing in Seychelles' Blue Future
Achievement at a glance
SeyCCAT's innovative financing mechanisms provide new resources to expand MPA coverage and to improve governance of priority fisheries, including the implementation of the Mahe plateau fishery management plan. \r\n\r\n\r\nSeyCCAT's Blue Grants Fund will annually (from 2018) disperse, via a competitive process, over US$700,000 to projects that support new MPAs and to pre-development and growth stage ventures that aim to improve the sustainability of fisheries. Other initiatives, such as habitat restoration, economic diversification, and projects to enhance social resilience to climate change in coastal communities can also be supported. The Development Bank of Seychelles will disperse commercial loans to viable fisheries ventures through a parallel "Blue Investment Fund."\r\n\r\nSeyCCAT has made calls for proposals for two consecutive years and successfully disbursed a total of US$ 661 000 in projects that have supported three of our strategic objectives. SeyCCAT will be launching its third call for proposals in April 2019.Challenges faced in implementation
N/ABeneficiaries
Seychellois individuals, non-governmental organizations, businesses, government agencies and parastatals are beneficiaries of the grants from the Trust. So far, 3 individuals and 8 organizations have benefitted from the grants funding.