📋 Tender Overview
Source of Funding / Amount: Ta: blue pacific finance hub:_investing in resilient pacific ocean ecosystems and economies
Ordinary capital resources: US$ 2.50 million
The knowledge and support ta will support the establishment and initial implementation phase of the blue pacific finance hub (bpfh), a new regional initiative to support increased investments in adbs 14 pacific dmcs in climate-resilient and sustainable blue economies, through support for governance and planning, identification of issues and opportunities, regional capacity development, and knowledge sharing. The ta supports in-country and desk-based activities.
Pacific island countries (pics) have a combined population of almost 11. 5 million with respective economic exclusive zones (eez) spanning over 20 million sq. Km. Geography, culture and the economy are intertwined with the pacific ocean. Most pacific people live in coastal areas, rely on coastal and marine resources for food and livelihoods, and benefit from significant economic opportunities in fisheries, coastal and marine tourism and maritime transport. In recent decades, however, coastal areas in the pacific have been exposed to natural hazards and higher risks from climate change which severely impact pic economies. This can be seen in the increased frequency and intensity of tropical cyclones, storm surges and coastal flooding, sea level rise, and ocean warming and acidification. These impacts significantly affect coastal and marine ecosystems and the services they provide (e. G. , food, coastal protection, jobs). The adverse impacts are foreseen to cause widespread damage to many pic economies and communities which are dependent on marine and coastal resources, which will amplify the vulnerability of communities to climate impacts. In light of these threats, the sustainable management of marine and coastal resources would provide resilience to pacific island economies. In the same vein, strengthening the blue economies of pics would alleviate poverty in vulnerable communities which depend directly on healthy coastal and marine ecosystems for food and livelihood. To achieve resilient and vibrant blue economies in the pacific, however, there is a need to break barriers hindering public and private sector investments in sustainable projects and activities. A key challenge is the difficulty in access and volume of capital to fund and sustain projects that seek to restore and maintain ocean health.
Resilience and wellbeing of pacific communities strengthened, and healthy and productive livelihoods built and sustainedpacific ocean and marine resources conserved and sustainably used for sustainable development
Dmc enabling conditions and capacity to build climate-resilient and sustainable blue economies enhanced.
Sector / Subsector: Agriculture, natural resources and rural development / fishery - water-based natural resources managementpublic sector management / public administration
Concept Clearance: 11 n
