jodi Mar/ 11/ 2021 | 0

The first round of funding approved by the Global Fund for Coral Reefs (GFCR) covers proposals from six countries including a USD $4.7M proposal led by the UN Fiji Country Office. The Fiji joint programme will receive an initial 2021 disbursement of US$1M along with the UN Joint SDG Fund co-financing of US$5.3M awarded in February of this year. The programme leverages philanthropic and development finance to mobilize commercial investments and promote the financial sustainability of coral reef conservation and reef-positive livelihoods.

The GFCR is supporting the development of a new sanitary landfill with a network of transfer stations to improve waste collection and prevent the leaching of harmful pollutants that are detrimental to Fijian mangroves and coral reef ecosystems. This joint programme is a collaboration with partners that include UN agencies (UNDP, UNCDF, UNEP), the WWF-Pacific, Matanataki, Blue Finance, Fijian local actors and the Government of Fiji and aims to leverage US$50M in investment capital by 2030. “The pilot investments of the Global Fund for Coral Reefs and Joint SDG Fund in Fiji will bring positive impacts not only to reef systems but to the people who depend on them,” said Jodi Smith, Partner at Matanataki. “During a time of extreme economic and climatic uncertainty, this investment will pave the way for world-class solutions and new manufacturing and income opportunities, while at the same time enabling active stewardship of the environment.”

The Global Fund for Coral Reefs is the first UN impact Fund dedicated to SDG 14. The GFCR is creating a new paradigm for the protection of an ecosystem on the brink of extinction with a myriad of implications. Through blended finance and innovative public-private partnerships, the GFCR is catalysing a sustainable financial ecosystem for the conservation of coral reef ecosystems and the development of the communities that depend on them.