Financing Seychelles' Marine Protected Areas

The Seychelles is recognized as a biodiversity hotspot its Protected Areas (PAs) act as banks for preserving nature for future generations. The presentation highlights the analysis and activities of a Government of... [ view full abstract ]

The Seychelles is recognized as a biodiversity hotspot its Protected Areas (PAs) act as banks for preserving nature for future generations. The presentation highlights the analysis and activities of a Government of Seychelles-UNDP-GEF project on Protected Area Finance, aimed to strengthen the financial sustainability and strategic cohesive of its marine protected area system. The research primarily provides an analysis and impact of the first national-level Sustainable Financing Plan for Protected Areas (PAs) in Seychelles calculated that the current financing available for PA management equates to USD 5 million. However, this is below the target of USD 8.7 million annually to meet their basic management needs or USD 11.8 million annually to enable optimal management (Rylance & Barois, 2016). Further, as the Marine Spatial Planning process, underway in Seychelles, aims to expand its PA system to cover up to 30% of its Exclusive Economic Zone (EEZ), financing becomes an even more important task. Secondly, it outlines the significant changes in the Government's Seychelles National Parks Authority which have enabled it to retain its revenue, strengthen and diversify its income streams in order to improve its conservation effectiveness. Finally, the presentation highlights the lessons for other national-level PA systems on how the application of economic analysis, financial planning and business development contribute to improved conservation management.