A regional project in support of a biodiversity preservation program backed by the Caribbean Biodiversity Fund

AFD and the The French Facility for Global Environment (FFEM) have agreed to provide 5 years of support to the Caribbean Biodiversity Fund (CBF) and its 12 affiliated National Trust Funds, providing 4 million euros in financing for the CRAB program aimed at developing innovative, sustainable financing mechanisms to encourage the protection of biodiversity.

Context

The Caribbean is home to approximately 1% of the world’s biodiversity, 10% of its coral reefs and a large share of endemic species. The marine and coastal ecosystems provide goods and services that are crucial to the well-being of the population.

Countries in the Caribbean have a strong dependency on these ecosystems, which contribute to the population’s livelihood and are the foundation of national economies (agriculture, fishing, tourism). These island and coastal ecosystems are in a precarious situation, however, being highly vulnerable to anthropogenic pressures and the impacts of climate change.

Created in 2012, CBF is a regional trust fund dedicated to sustainable financing for the preservation of marine and terrestrial biodiversity. With its capital ($125 million) invested in the markets, it generates regular income that supplements resources from the National Conservation Trust Funds in the area.

Description

AFD and the The French Facility for Global Environment (FFEM), with KFW, have set up a 4-million-euro Regional Biodiversity Support Contribution (CRAB) to provide support to CBF for the consolidation of its program for the development of innovative, sustainable financing mechanisms. CRAB is designed to reinforce CBF’s traditional missions. The goal is to adopt best practices, improve alignment of financing with regional priorities, build bridges with French stakeholders, provide support for communities suffering from the consequences of the pandemic and, with the OECS, contribute to the development of industries with Blue Bio Trade certification.

Impacts

Creation of a strategic planning tool for the CBF network’s regional and national interventions based on priorities defined regionally and by the international agenda
Organization of at least five regional workshops on priority biodiversity issues
Implementation of participatory diagnoses of protected areas and those communities most seriously affected by the health crisis. A “post-Covid” facility provides support for vulnerable populations to ensure greater environmental, social and economic resilience
Support for the development of sustainable “Blue Bio Trade” industries in partnership with the Organisation of Eastern Caribbean States, the United Nation’s Conference on Trade and Development and the Convention on International Trade in Endangered Species of Wild Fauna and Flora

Download the project sheet

01/01/2021

Project start date

5 years

Duration of funding

Biodiversity

Sectors

Caribbean

Location

Grant

Financing tool

4 000 000