KfW and BMZ establish a trust for international marine conservation

• EUR 24 million seed capital for the new Blue Action Fund
• Identification of conservation areas
• Promotion of sustainable fishing and environmentally friendly tourism

On behalf of the Federal Ministry for Economic Cooperation and Development (BMZ), KfW contributed EUR 24 million in seed capital to the newly founded Blue Action Fund trust. The non-profit trust is based in Frankfurt. It will support the marine conservation efforts of non-governmental organisations and, among other things, encourage the identification of new conservation areas as well as sustainable fishing and environmentally friendly tourism in the process. By 2019, around 12 projects amounting to at least EUR 20 million shall be launched.

"The oceans are greatly endangered due to drastic overfishing, untreated waste water, pollutants and solid waste. The Blue Action Fund is a new instrument for international marine conservation and simultaneously contributes to global food security", said Dr Norbert Kloppenburg, Member of the Executive Board of KfW Group.

The trust will counteract this trend because, in addition to their significance for water resources around the world, oceans and coastal areas make an enormous contribution to global food security with their high biodiversity: fish is an essential part of the diets of nearly three billion people.

Three non-governmental organisations are financing projects this year: the creation of 12 marine conservation areas in the waters of Costa Rica, Panama, Columbia and Ecuador are among the selection. This will ensure the livelihood of nearly 2,500 fishing households. Furthermore, fishing in Mozambique shall be sustainably organised with the participation of the fishing communities near the coast and a network of marine conservation areas shall be established.

Find out more about the Blue Action Fund here: www.blueactionfund.org

More information on KfW Development Bank is available at: www.kfw-entwicklungsbank.de