Project Objective: 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)
Albania , Algeria , Bosnia and Herzegovina , Bulgaria , Croatia , Egypt , Lebanon , Libyan Arab Jamahiriya , Macedonia the former Yugoslavian Republic of , Morocco , Serbia and Montenegro , Syrian Arab Republic , Tunisia , Turkey , Regional
LME
Partners
The main focus is on helping the poorest people and the poorest countries, but for all its clients the Bank emphasizes the need for:Investing in people, particularly through basic health and educationFocusing on social development, inclusion, governance, and institution-building as key elements of poverty reduction Strengthening the ability of the governments to deliver quality services, efficiently and transparently Protecting the environment Supporting and encouraging private business developmentPromoting reforms to create a stable macroeconomic environment, conducive to investment and long-term planning.
In 1975, the Mediterranean States and the European Community approved the Mediterranean Action Plan (MAP) as the institutional framework for cooperation in addressing common challenges of marine environmental degradation. The MAP also endorsed the preparation of a framework convention for the protection of the marine environment against pollution, as well as two related protocols that would provide a legal basis for action in protecting the Mediterranean marine environment against pollution.
Contacts
Consultant