Fiji to launch its first Blue Bond to fund ocean-centric projects – Sayed-Khaiyum
AG meets with the U.S. Special Presidential Envoy for Climate, John Kerry in Palau

Fiji to launch its first Blue Bond to fund ocean-centric projects – Sayed-Khaiyum

AG meets with the U.S. Special Presidential Envoy for Climate, John Kerry in Palau

By Naveel Krishant
Friday 15/04/2022
[Photo: Fijian Government]

Attorney General and Minister for Economy Aiyaz Sayed-Khaiyum says later this year, Fiji will launch its first Blue Bond to fund ocean-centric projects.

While speaking at the High-Level Panel on Sustainable Ocean panel event towards a ‘route to a Healthy Ocean, Prosperous People and Thriving Economies, Sayed-Khaiyum says the issuance will focus on raising capital market finance to support projects in blue shipping to reduce emissions in our vital maritime transportation sector, sustainable fisheries to expand aquaculture and protect natural fish stocks; a blue investment fund to provide affordable blue debt to non-government organisations in the ocean space; and sustainable waste management to build a second sanitary landfill and recycling facility in Fiji’s Western Division.

Sayed-Khaiyum says these are small steps on the journey to the blue economy we are building by 2030.

He adds much of this work will require partnerships, including in the Pacific to decarbonize our regional shipping sector.

Sayed-Khaiyum highlighted that to deliver on these commitments, and open possibilities for ocean-generated energy in the future, we need significant and urgent expansion in blue concessionary finance.

He also says while they welcome new finance from their development partners, if large, rich countries don’t also cut emissions and we fly past the 1.5-degree threshold, there won’t be ocean life left in our region to protect.

The AG says for us, blue finance is climate finance and it is development finance adding they cannot be separated.

He says Fiji was proud to be among the four countries selected to receive seed funding through the UN’s SDG Fund.

Sayed-Khaiyum adds to keep the conversation on blue finance going at the UN Ocean Conference, Fiji has proposed to host a side event dedicated to blue finance in partnership with the Waitt Foundation.

The Attorney-General also met with the U.S. Special Presidential Envoy for Climate, John Kerry, at the Our Ocean Conference in Palau to discuss ocean, maritime security, climate and conservation finance.



Latest Videos

Stay tuned for the latest news on our radio stations

CFL radio frequencies
IN DEPTH
Womens Rugby World Cup 2022
Quarter-final qualification is now the goal for the Rooster Chicken Fijiana 15’s following their 21-17 victory against South Africa.
103 days ago

Queen Elizabeth II passes away
Queen Elizabeth II, the UK's longest-serving monarch, has died aged 96, after reigning for 70 years.
133 days ago

Fiji wins Melrose Cup after 17 years
Fiji wins the RWC 7s title after 17 year drought
135 days ago
FEATURE NEWS
Riyaz Sayed-Khaiyum received $304,453.08 during COVID year – Amrit
Fijian Broadcasting Corporation Board Chairman, Ajay Bhai Amrit has today revealed that sacked CEO of FBC Riyaz Sayed-Khaiyum received $304,453.08 dur...
3 hours ago
LATEST NEWS
Police seek help in identifying man whose body was found near the Vatuwaqa Bridge
Police are seeking assistance in identifying a man whose body was found near the Vatuwaqa Bridge this morning. Police are still at the ...
2 hours ago

Two men in custody for alleged burglary case in Lautoka
Quick response by the K9 Unit in Vitogo resulted in the arrest of two men involved in an alleged burglary case in Matawalu, Lautoka. The report ...
2 hours ago

Aiyaz Sayed-Khaiyum should consider himself as part of a bad history for the Fijian economy – Prof.Prasad
Deputy Prime Minister and Minister for Finance, Professor Biman Prasad says he is getting on with the job of fixing the economic mess that former ...
2 hours ago

Arts Village swimming hotspot re-opened
One of the swimming hotspots, the Tiki Pool and Bar at the Arts Village in Pacific Harbour is now re-opened for families and friends after a lapse of ...
3 hours ago

Health Ministry welcomes any help with open arms - Dr Lalabalavu
It has been a while since any Board of Visitors has had an audience with the Health Minister, especially in the headquarters and entertain the board ...
3 hours ago

TOP