World Bank Commits US$4B to Blue Economy
The World Bank has disclosed that its Blue Economy portfolio has reached US$4.1 billion, and an additional US$1.5 billion in the pipeline will be invested in member countries that are harnessing its potential.
The bank has set a goal to raise US$3 billion to boost Blue Economic activities, indicating that it has already actualized $660 million thus far.
The disclosure was contained in a speech delivered by World Bank Senior Director for Environment and Natural Resources, Karin Kemper, at the just ended Sustainable Blue Economy (SBE) Conference—The Blue Economy and UN 2030 Agenda for Sustainable Development, Nairobi, Kenya.
“As everyone here knows, oceans are threatened on many fronts and there is great urgency to protect this natural bounty. Oceans support our economies, livelihoods and the health of our planet,” Kemper lamented.
She enumerated serious projects that are being undertaken around the globe to help boost blue economy.