AG announces Fiji’s intention to issue the first Blue Bond in the Pacific in 2022

AG announces Fiji’s intention to issue the first Blue Bond in the Pacific in 2022

By Rashika Kumar
Friday 12/11/2021
Minister for Economy, Aiyaz Sayed-Khaiyum. [Image: Fijian Government]

Minister for Economy, Aiyaz Sayed-Khaiyum has announced Fiji’s intention to issue the first Blue Bond in the Pacific in 2022 to help raise funds for a program of cutting-edge sustainable ocean-oriented projects.

While speaking during COP26 in Glasgow, Scotland, Sayed-Khaiyum says in the context of both the COVID-19 pandemic and the mounting climate crisis, Fiji’s need to unlock new and additional resources to accelerate resilience building is now more urgent.

He says Fiji’s priorities obviously cannot wait and this bond issuance is a means to accelerate the economy’s net-zero transition and increase climate resilience.

Sayed-Khaiyum says they need to ensure that their responsible stewardship of the ocean is strengthened and not weakened under the economic pressure they face.

He says Fiji is committed to designate 30% of our Exclusive Economic Zone as a marine protected area by 2030.

Sayed-Khaiyum has highlighted Fiji has the will to do this but even the best intentions can be stymied without dedicated financial resources.

The Minister also says the Blue Bond concept marries our desire to drive financial innovation and our advocacy for greater action to protect ocean.

He further says a blue economy can also lend Fiji economic resilience.

Sayed-Khaiyum adds COVID-19’s decimation of Fiji’s tourism industry has underscored the need to widen the economic base and they intend to do so in part through primary industries that includes fisheries, forestry and agriculture.

He says Fijians both young and old, Pacific islanders, and citizens of all vulnerable nations want the talking to stop and the action to begin.




Latest Videos

Stay tuned for the latest news on our radio stations

CFL radio frequencies
IN DEPTH
RKS and Tailevu North retains Tailevu Zone title
RKS won the boys division with 25 gold, 21 silver and 24 bronze. Tailevu North College took out the girls title with 33 gold, 17 silver and 9 bronze ...
3 days ago

Grammar wins Suva Zone 2 girls and boys title
Suva Grammar School have taken out the boys and girls division titles of the Coca-Cola Suva Zone 2 athletics meet. The Grammar boys finished with 28 gold, 24 silver and 15 bronze.
14 days ago

Words matter, especially from a Minister - DPP
Words matter, especially from a Minister, and these words were inappropriate according to the Director of Public Prosecutions Christopher Pryde while ...
15 days ago
FEATURE NEWS
Significant increase in fuel prices from tomorrow while significant decrease in gas prices
Get ready to dig much deeper in your pockets as there is a significant increase in fuel prices from tomorrow while there is some relief as there is a ...
4 hours ago
LATEST NEWS
18 year old student found dead outside his girlfriend's home in Sigatoka
An 18 year old student has been found dead outside his girlfriend's home early this morning in Waiqali Settlement, Maro, Sigatoka. Police say it ...
2 hours ago

Parents say primary school students were forced to play in the dark
Some parents are raising serious concerns that their children were forced to play in the inter primary soccer at Ratu Cakobau Park in the dark last ...
3 hours ago

Fiji on it’s path to recovery with many sectors delivering improved results after the pandemic – RBF Governor
The feedback from the tourism industry reveals that hotel occupancy rates and revenue per available room are increasing rapidly, with some hotels ...
3 hours ago

Bainimarama calls for serious ocean action commitments
‘We are not prepared to watch our reefs die, our fish stocks leave, and our communities be lost to the rising seas’. This message was relayed ...
4 hours ago

FijiCare marks 30th anniversary with 2 international awards
FijiCare Insurance Limited has received the best Health Insurance Provider Fiji and the Best Digital Insurance Initiative Fiji by the International ...
8 hours ago

TOP