Caribbean News Now!

About Us Contact Us


Jump to your country or territory of interest

Advertise with us

Reach our daily visitors from around the Caribbean and throughout the world. Click here for rates and placements.


Submit news and opinion for publication


Click here to receive our daily regional news headlines by email.


Click here to browse our extensive archives going back to 2004

Also, for the convenience of our readers and the online community generally, we have reproduced the complete Caribbean Net News archives from 2004 to 2010 here.

Climate Change Watch

The Caribbean is especially vulnerable to rising sea levels brought about by global warming. Read the latest news and information here...

Follow Caribbean News Now on Twitter
Connect with Caribbean News Now on Linkedin

News from the Caribbean:

Back To Today's News

Eastern Caribbean marine conservation enhanced by US$7.2 million contribution
Published on June 30, 2014 Email To Friend    Print Version

WASHINGTON, USA -- The Global Environment Facility (GEF) through the World Bank has contributed US$7.2 million to the Caribbean Biodiversity Fund (CBF) to promote the conservation, protection, management and expansion of national protected area systems and other areas of biodiversity significance across the Eastern Caribbean region.

The marine and coastal resources of the Caribbean -- its coral reefs, beaches, fisheries and mangroves -- serve as an essential economic engine. However, unsustainable coastal development, climate change and overfishing, as well as land-based sources of sediment and pollution are negatively impacting the region’s marine and coastal ecosystems.

The CBF will distribute the proceeds generated by the investment to conservation trust funds that are in the process of being established in Antigua and Barbuda, Grenada, St Kitts and Nevis, Saint Lucia, and St Vincent and the Grenadines. These locally-managed funds will make grants to government agencies and non-governmental organizations to execute conservation projects with a strong emphasis on marine habitats.

“The return on investments from the CBF endowment will be a sustainable source of funds that will help countries cover their costs for the management of protected area systems and other conservation needs,” said Yabanex Batista, chief executive officer of the CBF. “We are currently working on increasing the CBF capital and bringing more resources to further assist countries.”

The contribution was made under the aegis of the GEF/World Bank’s Sustainable Financing and Management of Eastern Caribbean Marine Ecosystem Project, which aims to ensure the long-term conservation and sustainable management of fragile marine ecosystems in the Eastern Caribbean. This project is being executed by The Nature Conservancy on behalf of the participating countries.

“The Caribbean is the most biologically rich area in the Atlantic, retaining 10% of the world’s coral reefs and 12,000 marine species”, said Dr Philip Kramer, director of The Nature Conservancy’s Caribbean Program. “Continued investments in the Caribbean Biodiversity Fund, such as this generous support from the World Bank/GEF, are critical for putting the Caribbean on a path to a sustainable future.”

The CBF forms a central part of the Caribbean Challenge Initiative, which was launched in 2008 as part of a larger regional effort that seeks to protect 20 percent of marine ecosystems in participating countries by 2020 and to promote consensus among governments, businesses, and non-governmental organizations on actions needed to address the challenges of coastal and marine conservation.

Established in 2012, the CBF is a regional fund that will provide long-term funding for biodiversity conservation in the Caribbean. Donors have committed nearly US$42 million in initial financial commitments to capitalize the CBF endowment. In addition to this $7.2 million gift from the World Bank/GEF, other funders include the government of Germany (BMZ/KfW), (US$26 million), The Nature Conservancy (US$8 million), and the United Nations Development Programme, also on behalf of the GEF (US$750,000).

“The CBF is an unprecedented regional partnership bringing together multilateral and bilateral agencies, international NGOs, countries and local stakeholders in the Caribbean,” said Jens Mackensen of KfW the German Development Bank and Chair of the CBF Board. “We are grateful to the GEF and the World Bank for their contribution, which bring us very close to achieving the CBF Phase I endowment capitalization target of US$42 million.”
Reads: 5510

Click here to receive daily news headlines from Caribbean News Now!



No comments on this topic yet. Be the first one to submit a comment.


As a result of our comments feature being overtaken in recent weeks by spammers using fake email addresses, producing a large number of bounced verification emails each day, we have reluctantly decided to suspend the comments section until further notice.

User comments posted on this website are the sole views and opinions of the comment author and are not representative of Caribbean News Now or its staff. Caribbean News Now accepts no liability and will not be held accountable for user comments.
Caribbean News Now reserves the right to remove, edit or censor any comments. Any content that is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will not be approved.
Before posting, please refer to our Terms of Use and Privacy Policy.

Other Headlines:

Regional Sports: