The nation of Seychelles traded $21 million in national debt in a deal to protect 81,000 square miles of its flourishing marine habitat.

Seychelles, an island nation of 99 percent water located north of Madagascar, is home to some of the world’s most pristine marine habitat. The area is rich with biodiversity and heavily influenced by tourism and fishing industries.
On Feb. 21, the Government of Seychelles and The Nature Conservancy announced two new protections, the first of which encompass 81,000 square miles of habitat.
Seychelles Marine Sanctuary: A Unique Agreement
To protect the habitat, Seychelles worked with The Nature Conservancy to rid itself of national debt. They performed the first “habitat-for-debt” exchange of its kind. The Nature Conservancy bought the debt and worked with private investors and governments to raise $21 million.
This protection, phase one of the Marine Spatial Plan, will roll out in 2018. Phase two adds 77,000 square miles to the total. The sanctuary will protect the entire area in 2020.
With these sanctuaries combined, 30 percent of Seychelles will be protected.

Private funders include the China Global Conservation Fund of The Nature Conservancy, The Jeremy and Hannelore Grantham Environmental Trust, Leonardo DiCaprio Foundation, Lyda Hill Foundation, Oak Foundation, Oceans 5, Turnbull Burnstein Family Charitable Fund, and the Waitt Foundation.
The Beauty of Seychelles
The new Marine Protected Areas cover 81,000 square miles of the ocean. Home to the Indian Ocean’s only dugongs, critically endangered turtles, and spawning grounds for rare and economically vital fish species, laws will now protect against destructive human activities.

Seychelles’s Controversial Fishing Decision
