Project Name Promoting Climate-Resilient and Sustainable Blue Economies
Project Number 56264-001
Country / Economy Regional
Cook Islands
Fiji
Micronesia, Federated States of
Kiribati
Nauru
Niue
Palau
Papua New Guinea
Marshall Islands
Samoa
Solomon Islands
Timor-Leste
Tonga
Tuvalu
Vanuatu
Project Status Active
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 10074-REG: Promoting Climate-Resilient and Sustainable Blue Economies
Technical Assistance Special Fund US$ 2.50 million
GEF-Least Developed Countries Fund US$ 183,500.00
Operational Priorities OP2: Accelerating progress in gender equality
OP3: Tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability
OP5: Promoting rural development and food security
OP6: Strengthening governance and institutional capacity
OP7: Fostering regional cooperation and integration
Sector / Subsector

Agriculture, natural resources and rural development / Fishery - Water-based natural resources management

Public sector management / Public administration

Gender Effective gender mainstreaming
Description The knowledge and support TA will support the establishment and initial implementation phase of the Blue Pacific Finance Hub (BPFH), a new regional initiative to support increased investments in ADB's 14 Pacific DMCs in climate-resilient and sustainable blue economies, through support for governance and planning, identification of issues and opportunities, regional capacity development, and knowledge sharing. The TA supports in-country and desk-based activities.
Project Rationale and Linkage to Country/Regional Strategy

Pacific Island Countries (PICs) have a combined population of almost 11.5 million with respective Economic Exclusive Zones (EEZ) spanning over 20 million sq. km. Geography, culture and the economy are intertwined with the Pacific Ocean. Most Pacific people live in coastal areas, rely on coastal and marine resources for food and livelihoods, and benefit from significant economic opportunities in fisheries, coastal and marine tourism and maritime transport.

In recent decades, however, coastal areas in the Pacific have been exposed to natural hazards and higher risks from climate change which severely impact PIC economies. This can be seen in the increased frequency and intensity of tropical cyclones, storm surges and coastal flooding, sea level rise, and ocean warming and acidification. These impacts significantly affect coastal and marine ecosystems and the services they provide (e.g., food, coastal protection, jobs). The adverse impacts are foreseen to cause widespread damage to many PIC economies and communities which are dependent on marine and coastal resources, which will amplify the vulnerability of communities to climate impacts.

In light of these threats, the sustainable management of marine and coastal resources would provide resilience to Pacific island economies. In the same vein, strengthening the blue economies of PICs would alleviate poverty in vulnerable communities which depend directly on healthy coastal and marine ecosystems for food and livelihood. To achieve resilient and vibrant blue economies in the Pacific, however, there is a need to break barriers hindering public and private sector investments in sustainable projects and activities. A key challenge is the difficulty in access and volume of capital to fund and sustain projects that seek to restore and maintain ocean health.

Impact

Resilience and wellbeing of Pacific communities strengthened, and healthy and productive livelihoods built and sustained

Pacific Ocean and marine resources conserved and sustainably used for sustainable development

Project Outcome
Description of Outcome

Enabling conditions and Pacific DMCs' capacity to build climate-resilient and sustainable blue economies enhanced

Progress Toward Outcome
Implementation Progress
Description of Project Outputs

Planning and governance for investments in climate-resilient and sustainable blue economies strengthened.

Assessments to underpin climate-resilient and sustainable blue economies prepared.

Regional collaboration and knowledge enhanced.

Status of Implementation Progress (Outputs, Activities, and Issues)
Geographical Location Cook Islands - Nation-wide; Fiji - Nation-wide; Kiribati - Nation-wide; Marshall Islands - Nation-wide; Micronesia, Federated States of - Nation-wide; Nauru - Nation-wide; Niue - Nation-wide; Palau - Nation-wide; Papua New Guinea - Nation-wide; Samoa - Nation-wide; Solomon Islands - Nation-wide; Timor-Leste - Nation-wide; Tonga - Nation-wide; Tuvalu - Nation-wide; Vanuatu - Nation-wide
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design
During Project Implementation
Responsible ADB Officer Kim, Mary J.
Responsible ADB Department Climate Change and Sustainable Development Department
Responsible ADB Division Climate Change, Resilience, and Environment Cluster (CCRE)
Executing Agencies
Asian Development Bank
Timetable
Concept Clearance 11 Nov 2022
Fact Finding -
MRM -
Approval 22 Dec 2022
Last Review Mission -
Last PDS Update 23 Dec 2022

TA 10074-REG

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
22 Dec 2022 - 22 Dec 2022 31 Dec 2026 - -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
2,500,000.00 183,500.00 0.00 0.00 0.00 0.00 2,683,500.00 12 Sep 2023 758,124.96
 
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Source URL: https://www.adb.org/projects/56264-001/main