Asia Pacific

Papua New Guinea


SDG Finance - Enabling Environment SDG Finance

Good Oceans, Good Business

The overall aim of the programme is to transform local livelihood opportunities connected to the marine environment, boost incomes, conservation and nutritional outcomes by putting in place the long-term structures needed to unearth new enterprise opportunities, build local skills and ultimately unlock private capital from domestic and international sources by building market confidence and demonstrating the viability of conservation and reef-first enterprise models.

Approach

The programme will establish a Blue Economy Enterprise Incubation Facility to accelerate the identification and development of sustainable blue economy livelihood opportunities and catalyse private sector investment at-scale, with a focus on SMEs, social and community enterprise models and particularly on women and youth. The initiative will aim to incubate businesses, which will have a positive impact on coral reef ecosystems in the two priority sites and support the establishment of credit lines, incentivized by deploying risk guarantees to the domestic financial market.

Quick facts

Co-funding:
US $ 9,710,448
Total budget:
US $ 10,434,848
Total Funding:
US $ 724,400
UN Agencies:

UNDP, UNCDF

National Partners:

Conservation and Environment Protection Agency; Provincial Government of West New Britain; National Fisheries Authority; Investment Promotion Agency of Papua New Guinea

Duration:
January, 2022 to December, 2025 (48 months)