International Waters learning Exchange & Resource Network

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. 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.

Other (not set)

Mediterranean Sea (LME)

General information
GEF ID 3229
IBRD ID 97216
Project type Full-Size Project
Status closed (Project Completion)
Start Date 12 Jun 2007
GEF characteristic:
GEF Allocation to project 15.00M US$
Total Cost of the project: 60.00M US$
Partners
Albania , Algeria , Bosnia and Herzegovina , Bulgaria , Croatia , Egypt , Lebanon , Libyan Arab Jamahiriya , Macedonia the former Yugoslavian Republic of , Monaco , Morocco , Serbia and Montenegro , Syrian Arab Republic , Tunisia , Turkey

International Bank for Reconstruction and Development (WB)

Project contacts
Emilia Battaglini GEF ECA Regional Coordinator