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SWIOFish3 is a 6-year fisheries project of the Government of Seychelles supported by the World Bank, GEF and the World’s first sovereign Blue Bond.
A $30 million Blue Economy Investment with a project development objective to improve management of marine areas and fisheries in targeted zones and strengthen fisheries value chains in Seychelles.
The project has four key components:
SWIOFish3 is classified as a Category B project by the World Bank indicating that moderate and minor negative environmental and social impacts and risks are anticipated.
As a Category B project, the following World Bank safeguards policies have been triggered:
These policies aim at preventing and mitigating undue harm to people and their environment. Specific measures and strategies have been designed to ensure strong protections for people and for the environment in this investment project. Based on these core principles, the SWIOFish3 PIU is overseeing the implementation and supervision of measures to address any environmental and social impacts deriving from SWIOFish3 activities through the project’s life.
The Grievance Redress Mechanism provides an accessible way for individuals and communities to file a complaint if they perceive that an activity or a subproject related to SWIOFish3 has or is likely to have adverse effects on them, their community and their environment.