The Secretary of State for Finance, Ottoniel Santos, on Thursday in Luanda, called for the creation of specific financial instruments to support projects linked to the Blue Economy, aiming to ensure a balance between economic profitability and the preservation of marine resources. These instruments are designed to fund initiatives that align economic development with environmental conservation and sustainability.
Speaking at the panel “Governance for the Marine Economy” during the International Conference on Sustainable Fisheries and Aquaculture, the official emphasized that, traditionally, projects in the sector have relied mainly on public funding or conventional financial market mechanisms, which are not flexible enough to address the specific needs of marine conservation. He stressed that innovation in financial instruments is crucial for the sector’s sustainable growth.
As international examples, he cited the Blue Bond issued by the Seychelles and S-Shares, which finance conservation initiatives with economic returns, demonstrating the potential of the blue economy — comparable to the carbon market in terms of development opportunities.
He explained that in Angola, there are already projects from the Ministry of Fisheries and Marine Resources that have received over 10 million dollars in funding, showing both interest and implementation capacity.
The Secretary highlighted that the global blue economy market has an estimated potential of 15 trillion dollars, underscoring the need for Angola to develop suitable financial tools based on research and technical data.
“The main challenge is ensuring that the pursuit of profitability does not compromise marine environmental preservation while seizing economic opportunities,” he said.
The conference, which concludes today, addresses topics such as governance, cooperation, climate change, gender inclusion, and financing, under the theme: “Responsible Fishing and Sustainable Aquaculture: A Challenge, a Commitment, and a Mission Uniting the Nation.”
More than 300 participants are attending, including representatives from Namibia, South Africa, Ghana, Tanzania, Cameroon, Portugal, Spain, Brazil, Norway, and Germany, as well as international organizations and strategic partners in the sector.
Source: O País Angola
