There is a strong economic case for representative, ecologically coherent and well-managed networks of MPAs. According to WWF The economic rate of return in expanding networks of MPAs is as high as 24 % and the benefit-to-cost ratio of expanding MPAs can be as high as 20:1 (WWF, 2015).
Multiple finance mechanisms exist for Marine Protected Areas and some mechanisms can be more adapted in function of the situation. For this reason BIOFIN is starting a series on Marine Protected Area Finance in order to increase the awarness on the diversity of exiting finance mechanisms that can be applied.
As a country that’s 99 percent ocean, Seychelles and its citizens depend on a healthy, thriving marine ecosystem. Jobs in the fishing and tourism industries employ 43 percent of the country's workforce. This reliance on marine resources motivated the government of the Seychelles to develop an ambitious project to protect nearly 410,000 km2, or 30% of Seychelles’ waters, by 2022 (TNC).
At the end of this webinar participants will be able to understand how different mechanisms can be used to finance marine protected area. The webinar will include three phases:
- Overview of Marine Protected Areas situation in Seychelles (5 min)
- Presentation on the mix of traditional and innovative finance solutions developed and implemented in Seychelles to finance the Marine Protected Areas (30 min)
- Presentation of the Debt Swap mechanism in Seychelles (10min)
- Q&A (30 min)
The webinar is on Wednesday, 31 October 2018, between 9:00 AM - 10:15 AM EDT.