CURIEUSE ISLAND: With deep blue waters, white sand beaches and rich marine life, the tiny island nation of the Seychelles announced a pioneering marine conservation plan on Thursday as part of a debt swap deal with creditors.

In an agreement described as the first of its kind, the Indian Ocean nation designated nearly a third of its waters as protected areas, aiming to ensure the longevity of its unique biodiversity.

The archipelago’s 115 islands have been isolated by continental land masses for millions of years. The Aldabra atoll, a Unesco World Heritage Site, is home to the world’s largest population of giant tortoises as well as critically endangered sea cows. It is spawning grounds for a number of rare species.

The government signed a bill restricting nearly all human activity in the waters around Aldabra and overall setting aside more than 210,000 square kilometres as protected areas. One part will ban all extractive uses such as fishing and petroleum exploration; the rest will be restricted to sustainable practices. The plan will be completed by 2021.

“A great honour and privilege,” the country’s environment minister, Didier Dogley, said at the signing.

The deal with the country’s creditors was brokered by US-based The Nature Conservancy and involved a $1 million grant by the foundation of actor Leonardo DiCaprio.

At the height of its debt crisis in the late 2000s, the Seychelles was one of the world’s top debt-ridden countries. Its sovereign debt peaked at nearly $1 billion, according to the World Bank. Today the debt stands at less than half of that, according to the finance ministry.

The deal allows for a certain amount of money to be repaid into a trust fund to support conservation-related projects, organizers said.

Published in Dawn, February 23rd, 2018