US$24 Million Allocated For Regional Sustainability Project Funding

• The Caribbean Biodiversity Fund (CBF) has recently launched its inaugural Call for Proposals for the Advancing Circular Economy (ACE) Facility, where residents from various Caribbean countries are eligible to apply.
• This program aims to provide grants totalling US$24.7Mn to innovative projects that promote circular economy principles and address the pressing issue of marine litter to combat marine pollution and safeguard biodiversity in the Caribbean region.
• Recognising the significant impact of marine pollution on Caribbean ecosystems and the bio-economy, the CBF has committed to advancing sustainable solutions in the region through the ACE Facility, which is part of its Nature-Based Economies Program.
• The ACE Facility aims to support projects that implement practical circular economy principles to prevent waste from entering the marine environment and to remove marine litter, while also considering post-waste removal processes such as recycling, reuse, and refurbishing for proper waste disposal.
• Funding for the ACE Facility is provided by the KfW Development Bank (KfW) on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ). Grants ranging from US$400,000 to US$2Mn per project are available and can be implemented over two and a half to three years.
• The eligible countries for funding include Cuba, Dominican Republic, Dominica, Grenada, Haiti, Jamaica, Montserrat, Saint Lucia, and Saint Vincent and the Grenadines. Eligible organizations from the Caribbean region include non-governmental organizations (NGOs), community-based organizations (CBOs), government agencies, regional organizations, small and medium-sized enterprises (SME), universities, and consortia of these entities.

(Source: Dominica News Online)