World Bank-GEF Investment Fund for the Mediterranean Sea Large Marine Ecosystem Partnership, Tranche 1, 2nd Installment

Project Summary

The 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.

Project Details

GEF Project ID
Project Type
Full-size Project
Concept Approved
Focal Areas
Funding Source
GEF Trust Fund
Implementing Agencies
The World Bank
Executing Agencies
GEF Period:
GEF - 4
Approval Fiscal Year:


Project Preparation Grant Amount
GEF Project Grant
905,000 USD
Co-financing Total
GEF Agency Fees
1,350,000 USD
Total Cost 905,000.00 USD

Project Timeline

Received by GEF
27 Sep 2006
Concept Approved
01 Jun 2007
Project Approved for Implementation
Project closed