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Debt for dolphins: Seychelles creates huge marine parks in world-first finance scheme

An innovative exchange of sovereign debt for marine conservation, backed by the likes of Leonardo DiCaprio, could pave the way to saving large swaths of the world’s oceansThe tropical island nation of Seychelles is to create two huge new marine parks in return for a large amount of its national debt being written off, in the first scheme of its kind in the world.The novel financial engineering, effectively swapping debt for dolphins and other marine life, aims to throw a lifeline to corals, tuna and turtles being caught in a...

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Published By: theguardian.com - Thursday, 22 February