📋 Tender Overview
Insurance payments for restoring a coral reef after it has been smashed by a hurricane may seem a bit far-fetched. Nevertheless this is one of a raft of measures being proposed for the worlds second largest reef.The Mesoamerican Reef is the largest transboundary coral reef system in the Atlantic Ocean stretching more than 1000 km along the coastline of four countries Belize Guatemala Honduras and Mexico. It is critical to the ecological and economic health of the entire region and the Caribbean area. Coral reefs are among the most biologically diverse and economically valuable ecosystems on the planet. They provide food livelihoods and economic opportunity for millions of people. Coral reefs also protect coastal communities from storm surge flooding and wave action during tropical cyclones as well as beach erosion.In Mesoamerica the value of coral reefs across the tourism commercial fisheries and coastal development sectors is linked to their health and is estimated at US6.2 billion per year according to The Coral Reef Economy The business case for investment in the protection preservation and enhancement of coral reef health an October 2018 study by the UN Environment Programme UNEP and partners.Today however the vitally important goods and services of coral reefs are at risk from local and global human activity and the Mesoamerican Reef is no exception.
