Key Impact Points:
- The Caribbean Biodiversity Fund (CBF) announces a $24.7 million fund for circular economy projects to reduce marine pollution in the Caribbean.
- Grants ranging from $400,000 to $2 million are available for projects focusing on waste reduction, recycling, and sustainable marine practices.
- The ACE Facility, funded by the KfW Development Bank, supports initiatives across nine Caribbean nations, fostering biodiversity conservation and sustainable development.
A Major Step Toward Marine Pollution Reduction in the Caribbean
The Caribbean Biodiversity Fund (CBF) has officially launched its first Call for Proposals under the Advancing Circular Economy (ACE) Facility. This $24.7 million initiative is dedicated to funding innovative projects that apply circular economy principles to combat the growing problem of marine pollution and preserve the region’s biodiversity.
Marine pollution remains a significant threat to Caribbean ecosystems and the bio-economy. The ACE Facility, part of CBF’s Nature-Based Economies Program, aims to address this challenge by financially backing projects that reduce waste entering the marine environment and promote sustainable waste management practices, such as recycling and reuse.
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Funding Circular Economy Solutions
The ACE Facility is funded by the KfW Development Bank on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ). Grants ranging from $400,000 to $2 million per project are available for implementation over two and a half to three years. Eligible countries include Cuba, Dominica, the Dominican Republic, Grenada, Haiti, Jamaica, Montserrat, Saint Lucia, and Saint Vincent and the Grenadines.
Karen McDonald Gayle, CEO of the Caribbean Biodiversity Fund, emphasized the significance of the initiative: “The ACE Facility represents a significant step forward in our mission to protect and preserve the Caribbean’s rich biodiversity. By supporting innovative projects that implement circular economy principles, we are not only addressing the urgent issue of marine litter but also fostering sustainable development and economic growth in the region.”
Who Can Apply?
A wide range of organizations from the Caribbean region are eligible to apply, including NGOs, community-based organizations (CBOs), government agencies, private sector SMEs, universities, and academic institutions. Projects should focus on reducing marine pollution and advancing waste management strategies that contribute to the conservation of biodiversity and the sustainable use of natural resources.
How to Apply
Applicants are encouraged to submit Concept Notes via the CBF’s online portal (caribbeanbiodiversityfund.org) by September 20, 2024. Successful applicants in this initial phase will be invited to submit Full Proposals for further evaluation.
With this major funding opportunity, the CBF is accelerating efforts to protect the Caribbean’s oceans and promote a more sustainable and resilient future for the region.
