[Source: WWF Australia]

Fisheries stands to gain the most from a $20 million blue bond, but this doesn’t preclude the possibility of other sectors reaping benefits as well.

The Reserve Bank of Fiji has revealed that the bidding process for the blue bond issuance will commence today.

The approval for the issuance was granted in August, with tenders invited for both three- and fifteen-year bonds, with a total cap of $20 million.

Reserve Bank of Fiji Domestic Market Team Leader Devendra Narain says the blue bonds will be available on the market by means of an auction, and tenders can both be competitive and non-competitive.

“The auction for the bid will be on a yearly basis, and bids must be expressed to the maximum of two decimal places. Bidding will take place on the 7th of November on the Central Securities Depository, and the auction will be from 9am to 10am.”

Meanwhile, Sisilia Nalaide reiterates that the project will focus on nature-based solutions for coastal protection.

“From the eighteen eligible projects identified, this is within these four ministries. For the Fisheries Ministries, we have identified a total of 13 projects, so in total, it’s around $6.7 million.”

The blue bond demonstrates how committed the government is to protecting our biodiversity, our environment, climate change, and sustainable growth.