FINANCING SUSTAINABLE AND CLIMATE RESILIENT OCEAN ECONOMIES IN #AFRICA
(Posted 22nd September 2018)
The President of the Republic, H.E. Danny Faure, attended the official opening of the Conference on Financing Sustainable and Climate-Resilient Ocean Economies in Africa this morning, being held in Seychelles from today, 22 to 23 February, at the Savoy Resort in Beau Vallon.
The two-day Conference is co-hosted by the Government of Seychelles and the World Bank Group and is focused on ways to attract private and public sector investment to build the resilience of ocean economies in Africa, given climate change and other challenges. The conference brings together approximately 150 representatives from African countries, development partners, international organizations, private investors, scientists, civil society and academia.
During the opening ceremony, the Vice-President of Seychelles, Mr. Vincent Meriton, and the Vice-President of Sustainable Development for World Bank, Ms. Laura Tuck, delivered the welcome addresses highlighting the prosperity that the ocean offers both today and tomorrow, and emphasising that countering threats such as climate change, marine pollution, and overexploitation should remain at the forefront of all actions. They also stressed on the critical role of the private sector in supporting these efforts.
“Over the next two days, we will share lessons learnt and focus on practical solutions to finance the sustainable development of our blue economies. This is timely and I look forward to the discussions," said Vice-President Meriton.
“Government can set the rules for sustainable development of our ocean territory and ensure they are implemented, but development cannot take place without the strong participation of the private sector. Today we will hear perspectives on the role of Government and the role of the private sector in areas as diverse as innovation, technology, value adding and entrepreneurship which are all essential to implementing a blue economy agenda. The traditional role of the private sector is evolving. With the decline of public funding for sustainable development, new partners and alternative financing solutions are emerging. Increasingly the private sector is investing in sustainable projects and initiatives, not just because it is ethical, but also because it makes business sense and is the way of the future,” he continued.
On her part, Ms. Tuck placed emphasis on the progress made by the global community in beginning to recognise concerns about the health of oceans and to find ways to address them. “We now need to give a boost to both the public and private efforts that – if combined – can create healthier, more productive and sustainable oceans. Our vision for this work fits into a framework that we call the Blue Economy. The objective of this framework is to support economic growth, social inclusion, and the preservation or improvement of livelihoods while at the same time ensuring – or improving – the environmental sustainability of the oceans and coastal areas. We believe that a Blue Economy approach is the only way to both provide social and economic benefits for current and future generations and protect our oceans at the same time,” said Ms Tuck.
Also present at the official opening Ceremony this morning was the Designated Minister and Minister for Local Government and Home Affairs, Mrs. Macsuzy Mondon, the Leader of Government Business in the National Assembly, Honourable Charles Decomarmond, Cabinet Ministers, the Deputy Speaker in the National Assembly, Honourable Nicholas Prea, Members of the National Assembly, Secretary of State for Foreign Affairs, Ambassador Barry Faure, Members of the Diplomatic Corps, senior members of the World Bank group, and other distinguished guests.
