With rising threats to the ocean and marine resources, the government is now looking at the issuance of blue bonds.
Blue Bond is a financing initiative that taps into capital markets to fund ocean-related environmental projects.
During the budget announcement, Minister for Economy Aiyaz-Sayed-Khaiyum highlighted that Fiji will be adopting more blue and ocean-friendly policies in the next financial year.
“We will also be pursuing the issuance of a blue bond to fund these critical efforts to preserve our oceans and build a blue Fiji. In earlier discussions, we have already sparked strong initial interest in the bond among our developing partners and we will have more details on this initiative in the months to come.”
The Minister says discussion with developing partners on the issue continues.
“This focus on cultivating a sustainable blue economy will take close coordination efforts across government, businesses, our developing partners and society, particularly to benefit those many Fijians who have long relied on our oceans for their likelihoods.”
Fijians are being urged to also participate in the government’s effort to build a blue economy from the grassroots level by planting mangroves and cleaning up rubbish from the beaches.