Since 2013, the government of Seychelles identified the need to reduce economic vulnerability and dependance on tourism, increase the GDP from marine sectors, create high-value jobs and ensure food security through the protection and sustainable use of marine resources.

The Seychelles’ Conservation and Climate Adaptation Trust (SeyCCAT) was created in 2015 together with the Government of Seychelles and The Nature Conservancy. The parties concluded the first debt-for-nature swap for ocean conservation, through a US$ 21.6 million debt restructure. SeyCCAT was given the management of two innovative financing deals, the Blue Grants Fund (total of US$ 11.6 million) and the Blue Endowment Fund.

SeyCCAT is now a conservation trust fund tasked with mobilizing resources to advance the Seychelles’ blue economy.