Arab Today, arab today world bank supports indonesia\s coral reefs and coastal communities with 4738m loan
Last Updated : GMT 16:01:31
Arab Today, arab today
Arab Today, arab today

World Bank supports Indonesia\'s coral reefs and coastal communities with $47.38m loan

Arab Today, arab today

Arab Today, arab today World Bank supports Indonesia\'s coral reefs and coastal communities with $47.38m loan

Washington - WAM

The rehabilitation of Indonesia's coral reefs will receive more than US$62 million of additional funding from the Coral Reef Rehabilitation and Management Program - Coral Triangle Initiative (COREMAP-CTI) project. The World Bank's Board of Executive Directors approved US$47.38 million in financing for the project - the conclusion of a three-phase program which began in 1998. The Project is also supported by a US$10 million grant from the Global Environment Facility (GEF), and the Government of Indonesia has pledged US$5.74 million for the 5-year project. Almost two-thirds of Indonesia's coral reefs are considered threatened from overfishing, and almost half are considered threatened specifically from destructive fishing practices. COREMAP-CTI aims to develop an integrated community-based approach to sustainable coastal resources planning and management - a blueprint that the Government of Indonesia may replicate across Indonesia. "COREMAP-CTI builds on the achievements of previous projects COREMAP I and COREMAP II, which showed the benefits of community participation in coral reef ecosystems management," says World Bank Country Director for Indonesia Rodrigo Chaves. "The next challenge is to mainstream this approach into local government and village programs, so that coral reef protection becomes an integral part of development planning and improves the welfare of coastal communities," adds Chaves. COREMAP-CTI continues a 15-year partnership between the Government of Indonesia, the World Bank, and the GEF, and will pilot initiatives such as marine spatial planning, community rights-based fisheries, and an ecosystem-based approach to fisheries management. COREMAP-CTI will also support 13 Marine Conservation Areas covering some 5.7 million hectares, as well as two Fisheries Management Zones. The Government of Indonesia has also pledged, by the year 2020, to set aside 20 million hectares of marine space for Marine Conservation Area management; so far, 14 million hectares have been demarcated and 5.5 million hectares have been brought under management plans. The COREMAP-CTI project is the principal mechanism to meet this commitment.

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