Skip to main content
Home

GEF Logo

GEF Logo

Search
  • Who We Are

    Organization

    • Overview
    • CEO and Chairperson
    • Focal Points
    • Secretariat Staff

    GEF Council

    • Members & Alternates
    • Work Programs
    • Meetings
    • Decisions

    Funding

    • Overview
    • GEF-9
    • GEF-8
    • GEF-7
    • Replenishment Documents
    • Overview
    • CEO and Chairperson
    • Focal Points
    • Secretariat Staff
  • What We Do

    Topics

    Topics

    • Amazon
    • Biodiversity
    • Blended Finance
    • Food Security
    • Forests
    • Global Biodiversity Framework Fund
    • Illegal Wildlife Trade
    • Integrated Programs
    • International Waters
    • Land Degradation
    • LDCF
    • Mercury
    • Pollution
    • SCCF
    • Sustainable Cities
    • Transparency
    • View All Topics >>

    Stakeholder Engagement

    Stakeholder Engagement

    • Civil Society Organizations
    • Country Engagement Strategy
    • Fonseca Leadership Program
    • GEF Voices
    • Indigenous Peoples
    • Knowledge & Learning
    • Private Sector
    • Youth
  • Projects & Operations

    Projects

    Projects

    • Project Database
    • Templates
    • How Projects Work

    Countries

    Countries

    • Recipient Countries
    • Donor Countries
    • Participant Countries
    • Country Support Program

    Operations

    Operations

    • Conflict Resolution Commissioner
    • GEF Geospatial Platform
    • Knowledge & Learning
    • Policies and Guidelines
    • Results
  • Partners

    Partners

    • Countries
    • GEF Agencies
    • Conventions
    • Civil Society Organizations
    • Private Sector
    • Countries
    • GEF Agencies
    • Conventions
    • Civil Society Organizations
    • Private Sector
  • Newsroom

    Newsroom Menu Column 1

    • All
    • News
    • Feature Stories
    • Press Releases
    • Multimedia
    • Publications
    • Blog
    • Partner News

    Newsroom Menu Column 2

    • GEF Logo
    • Newsletter
    • Media Contacts
    • All
    • News
    • Feature Stories
    • Press Releases
    • Multimedia
    • Publications
    • Blog
    • Partner News
  • Events
  • Search

LDCF and partners announce $16.5 million for Pacific ocean and coastal health

News
November 8, 2022
Damselfish swim in shallow water in a Palau lagoon
Photo credit: Ethan Daniels/Shutterstock

The Global Environment Facility today joined with the Asian Development Bank (ADB) and the Nordic Development Fund (NDF) at COP27 to announce grants of $16.5 million for the Blue Pacific Finance Hub, which aims to build ocean and coastal resilience in countries threatened by the impacts of climate change.

The GEF's Least Developed Countries Fund (LDCF) is providing $10 million and ADB $2.5 million, with NDF also providing a proposed commitment of $4 million.

NDF’s contribution will come through the new Ocean Resilience and Coastal Adaptation (ORCA) Trust Fund co-created by ADB and NDF which supports blue economies in Asia and the Pacific, of which Blue Pacific Finance Hub is a window.

The Blue Pacific Finance Hub aims to raise $50 million in grant finance to leverage $500 million in ocean investments to build resilient blue economies in the Pacific.

“Oceans are a lifeline for ADB’s Pacific developing member countries,” said ADB Vice-President for East Asia, Southeast Asia, and the Pacific Ahmed M. Saeed. “We are grateful to our partners for their contributions and look forward to working with them closely to support the Pacific’s blue economies.”

Marshall Islands Climate Envoy Tina Stege welcomed the announcement: “Marshallese identity and culture are inextricably tied to the oceans. Our economic activities are also closely tied to the sea and marine resources. We must find ways to adapt to the impacts of climate change that threaten our way of life, while also exploring opportunities to develop and strengthen our ocean economies. Grant-based finance and technical support will be key to our efforts.”

The Blue Pacific Finance Hub will particularly help women and communities by funding coastal adaptation, including nature-based solutions, ocean-based mitigation—such as marine renewable energy and shipping decarbonization—sustainable seafood and marine protected areas, and marine pollution control.    

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

This article was originally published by ADB.

Topics

Climate Change
Climate Change Adaptation
Least Developed Countries Fund - LDCF

Partners

Asian Development Bank
Related Content

The GEF at UNFCCC COP27

Event / November 6, 2022
View All News

Related News

Cover image for publication "GEF Support for the Enhanced Transparency Framework"
Publication

GEF Support for the Enhanced Transparency Framework

Press Release

Une nouvelle enveloppe de financements du GEF accélère les progrès vers la réalisation des objectifs de 2030

June 6, 2025
Press Release

New GEF financing propels progress to 2030 goals

June 5, 2025

GEF Updates

Subscribe to our distribution list to receive the GEF Newsletter.

Sign up

GEF Logo

Follow Us

GEF Affiliated Sites

  • GEF Portal
  • Independent Evaluation Office
  • Scientific and Technical Advisory Panel
  • Small Grants Program

Who We Are

  • GEF Secretariat Staff
  • Conflict Resolution Commissioner
  • Council Members & Alternates
  • Focal Points
  • Careers
  • Legal
  • Contact Us

© 2025 Global Environment Facility, All Rights Reserved.  |   Legal