The Development Bank of Latin America and the Caribbean (CAF) announced on Saturday its commitment to invest $2.5 billion in the region’s blue economy by 2030. The initiative aims to promote the sustainable development of marine and coastal ecosystems across Latin America and the Caribbean.
The blue economy refers to the sustainable use of ocean and coastal resources for economic growth, improved livelihoods, and jobs, while preserving the health of marine ecosystems. The investment will support a range of programs focused on biodiversity conservation, climate mitigation, pollution reduction, and the development of sustainable fisheries and tourism industries.
CAF’s president highlighted the importance of the region’s oceans and coastlines, both as vital natural resources and as economic lifelines for millions of people. “Marine ecosystems are critical to the wellbeing of our communities and economies. This investment underscores our commitment to ensuring their long-term health and viability,” the bank stated.
As part of the investment plan, CAF will work with governments, local communities, and the private sector to implement strategies that align with international environmental commitments, including the United Nations Sustainable Development Goals (SDGs).
This pledge marks a significant regional response to increasing concerns over climate change, ocean degradation, and unsustainable exploitation of marine resources. The initiative comes amid growing recognition that the health of oceans is inseparably linked to environmental security and economic resilience in Latin America and the Caribbean.
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