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World Bank-GEF Investment Fund for the Mediterranean Sea Large Marine Ecosystem Partnership, Tranche 1, 1st Allocation

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The main objective of the proposed World Bank-GEF Investment Fund for Pollution Reduction in the Mediterranean Sea is to facilitate the recipient countries of the Mediterranean Sea basin in implementing their top transboundary priority pollution reduction and habitat protection measures and contribute to reversing the degradation of this large marine ecosystem and its freshwater basins.
GEF ID: 2601
Project Description:


The main objective of the proposed World Bank-GEF Investment Fund for Pollution Reduction in the Mediterranean Sea is to facilitate the recipient countries of the Mediterranean Sea basin in implementing their top transboundary priority pollution reduction and habitat protection measures and contribute to reversing the degradation of this large marine ecosystem and its freshwater basins. The Investment Fund – supported by the GEF with US$ 60-70 million grant financing over multiple tranches and open to other donors’ contributions – is proposed as a vehicle for catalyzing investments and accelerate urgent actions that are necessary for reducing pollution of the Mediterranean Sea, and the Adriatic Sea in particular. Through the Investment Fund, basin countries can pursue investments aimed at common transboundary pollution reduction and ecosystem conservation goals, and help jump start and further accelerate investments in sectors that are key for environmental improvement as well as social and economic development. The Investment Fund, through a combination of capital investments, economic instruments, policy and regulatory frameworks and public participation will provide a critical mass of financial resources and technical knowledge readily available to countries that embrace the goal of improving the environmental conditions of the Mediterranean Sea. It will also develop a strategic regional approach to investments for greater benefit to the basin countries.

 


 

Project Website URL: http://www.unepmap.org
Region: Africa,Asia,Europe,Global
Sub-Region: Northern Africa,Western Asia,Eastern Europe,Southern Europe
Basin:
Project Contacts:
    Tranche Funding:
    Project World Bank-GEF Investment Fund for the Mediterranean Sea Large Marine Ecosystem Partnership, Tranche 1, 2nd Installment
    The main objective of the proposed World Bank-GEF Investment Fund for Pollution Reduction in the Mediterranean Sea is to facilitate the recipient countries of the Mediterranean Sea basin in implementing their top transboundary priority pollution reduction and habitat protection measures and contribute to reversing the degradation of this large marine ecosystem and its freshwater basins.
    Project Documents:
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    General Information:
    Project Type Full Size Project
    Project Status Council Approved
    Start Date
    Aug 27, 2006 07:00 AM
     
    GEF characteristic:
    Operational Programme OP2 - Costal Marine and Freshwater Ecosystems, OP9 - Integrated Ecosystem and Resource Management
    Focal Area Multiple Focal Areas
    GEF Allocation to project 10.00M US$
    Total Cost of the project: 100.00M US$
     
    Partners:
    Countries: Algeria, Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Egypt, Lebanon, Libyan Arab Jamahiriya, Macedonia the former Yugoslavian Republic of, Morocco, Serbia and Montenegro, Syrian Arab Republic, Tunisia, Turkey
    Lead Implementing Agency International Bank for Reconstruction and Development (WB)
    Executing Agencies
    Document Actions