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Detail of GEF Project #3229

GEF Project ID3229
IBRD PO ID97216
Funding SourceGEF Trust Fund
Project NameWorld Bank-GEF Investment Fund for the Mediterranean Sea Large Marine Ecosystem Partnership, Tranche 1, 2nd Installment
CountryRegional
RegionRegional
Focal AreaInternational Waters
Operational Program9; 2
Strategic ProgramIW-2
Pipeline Entry Date2004-12-21
Approval Date2007-06-14
Project StatusCouncil Approved
Executing Agency
DescriptionThe 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.
GEF Project Grant
905,000 USD
GEF Grant
905,000 USD
Cofinancing Total
0 USD
Project Cost
905,000 USD
GEF Agency Fees
1,350,000 USD
GEF Project (CEO Endo.)
905,000 USD
Cofinancing Total (CEO Endo.)
0 USD
GEF Agency Fees (CEO Endo.)
1,350,000 USD
Project Documents

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