The Ministry of Agriculture, Climate Change and Environment (MACCE), in collaboration with SeyCCAT and with support from the Seychelles Marine Spatial Plan Initiative, is pleased to share the final report of the Updated Costing and Financing Options to implement the Seychelles Marine Spatial Plan.
The aim of the consultancy was to:
- Update the cost estimates of implementing the marine protection areas using the three cost scenarios from 2019.
- Identify and prioritise existing and new financing options that can be scalable for the size of the new MPA system.
- Identify the management models to improve cost effectiveness of implementation (to reduce the amount of financing required).
The report highlights the special considerations and unique challenges to finance large-scale MPAs, the estimated funding gap for the implementation of the SMSP for the full EEZ, and possible solutions for the additional capital needed to support long-term operations.
This report is the deliverable from a 5-month consultancy (Jun-Oct 2024) to update a Costing Analysis that was completed in 2019 by GoS-UND-gef’s Andy Rylance. For the 2024 consultancy, stakeholders were interviewed virtually and a workshop was held in Seychelles in Sep 2024 – click here for the Agenda.
Considerations for interpreting the results include limitations in updating the information from 2019 with data available in 2024, and confidentiality of government budgets. All numbers and figures should be considered estimates.
Please contact the SMSP Project Manager for any questions or additional information.
Consultant: John Bohorquez, PhD, Blue Economy Solutions Lab.
DOWNLOAD FINAL REPORT – click here
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