Investing in Coral Reefs and the Blue Economy
The Joint Programme (JP) seeks to create a blended finance facility and build capacity to mobilise private and public investment capital for initiatives that have a positive impact on Fijian coral reefs and the communities that rely on them. The JP will construct a pipeline of bankable projects providing a blend of technical assistance, performance grants and concessional capital for de-risking. Projects will leverage finance from private investors and other financing facilities.
Expected results include:
- Private sector investment in a US$10M blended finance facility for effective management of 30 Locally Managed Marine Areas (LMMAs) in Fiji. The JP will accelerate the short-term investment readiness of a pipeline of 10 LMMA projects ($3.1M target) and bring the wider pipeline to market ($10M target). Business model include reef-first businesses such as eco-tourism, visitor centers, sustainable fisheries and blue carbon credits.
- Private sector investment in a $14M blended finance facility for sanitary landfill project before replicating the approach to other landfill projects in the country.
- Private sector investment in an eco-fertilizer factory before replicating the approach to other five reef-first SME projects in the pipeline.
- Established and operational gender-responsive Technical Assistance Facility (TAF) for blue economy SMEs and financial instruments. The TAF will:
- Bring expertise during the pre-investment and post-investment life cycle of the Blue Economy SMEs
- Aggregate and pool investments and other financial instruments, reducing transaction costs and reducing risk profile
- Work with Government to improve regulatory framework
- Fundraise development and private finance
- Leveraged a total of $50M in public and private investments in reef-first SMEs and financial instruments.
- Measurement and verification of positive economic and environmental impacts to vulnerable coastal communities (>70,000 beneficiaries) and coral reefs, of which 50% will be women and youth.
Call for proposals: Building Back Blue - Blue Accelerator Grant Scheme Fiji 2022
United Nations Development Programme
MPTFO - Joint SDG Fund (previously known as The Joint Fund for the 2030 Agenda)
MPTFO-Global Fund for Coral Reefs
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