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The project


Seychelles is undertaking an investment in the framework of the South West Indian Ocean Fisheries Governance and Shared Growth Program (SWIOFish). SWIOFish is a long term regional program of the World Bank that aims to increase the economic, social and environmental benefits for the countries of the South West Indian Ocean from sustainable marine fisheries. 

Within this program, Seychelles is implementing the Third South West Indian Ocean Fisheries Governance and Shared Growth Project (SWIOFish3). SWIOFish3, which is financed primarily by the World Bank and the Global Environment Facility (GEF), is supporting country-level investments over six years. The project is further financed by proceeds of  the World’s first  sovereign Blue Bond, which are being used to capitalise the Blue Grants Fund (BGF) of the Seychelles Conservation and Climate Adaptation Trust (SeyCCAT) and a loan facility, the Blue Investment Fund (BIF), administered by the Development Bank of Seychelles (DBS).

Project objectives

To improve management of marine areas and fisheries in targeted zones and strengthen fisheries value chains in Seychelles.

Project Components

Together to the future!

The SWIOFish3 project supports the Government of Seychelles to achieve its dual objectives of marine resources conservation and expansion of the seafood value chains. Seafood value chains are a cornerstone of the country’s blue economy strategy and their expansion is expected to deliver long-term, resilient growth, jobs and food security and this is the focus of component 3. However, this development will not be sustainable if their marine resource base is not properly managed, which is  supported by components 1 and 2. Because marine and coastal resource management will potentially translate into reduced access to the resource, component 3 provides opportunities for investment in post-harvesting and service components of the fisheries value chain, thus offsetting socioeconomic impacts and fostering adherence to the management measures.


Other Projects under the SWIOFish Program

In accordance with the World Bank safeguards policies, SWIOFish3 has been classified as a Category B project and the following policies have been triggered: 

In line with these safeguards policies, during the SWIOFish3 preparation phase, the Government of Seychelles prepared an Environmental and Social Management Framework (ESMF) and a Process Framework (PF) to identify and address the main environmental and social impacts of the project. The ESMF provides the environmental and social due diligence principles and processes that need to be followed by project stakeholders and beneficiaries when implementing SWIOFish3 sub-projects and activities. The PF provides the criteria and procedures to be followed when a sub-project activity is identified as having a potentially adverse socioeconomic impact on existing rights, assets or livelihoods: for example, as a result of new restrictions on access to fisheries or other natural resources. 

Meet the Team

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