Global demand for blue economy initiatives is soaring, prompting PROBLUE to seek additional funding to support countries and regions in their development efforts.
SAN JOSE, June 6, 2024 – The World Bank and twelve donor partners announced today the extension of the PROBLUE program, a multi-donor trust fund dedicated to supporting a healthy and productive ocean, until the year 2030. The announcement was made at the second annual PROBLUE Global Engagement Forum.
The extension of PROBLUE underscores the international community’s commitment to sustainable development and recognizes the critical role that the ocean plays in natural ecosystems, as well as the communities, jobs, and economies that rely on them. The Program's extension to 2030 aligns with the United Nations' Decade of Ocean Science for Sustainable Development and the Global Biodiversity Framework, furthering the global agenda for ocean sustainability.
"The ocean is a lifeline for billions of people around the world," said Valerie Hickey, World Bank Global Director for the Environment, Natural Resources and Blue Economy. "With the extension of the PROBLUE fund, we are reinforcing our resolve to put the ocean at the heart of our mission to end poverty on a livable planet by protecting marine biodiversity, improving coastal resilience, and empowering coastal and island communities."
PROBLUE is working with donors to secure replenishment funds and attract contributions from new donors. This support will ensure continuation of vital programs aimed at marine pollution reduction; sustainable fisheries and aquaculture; offshore wind energy; decarbonization of shipping; tourism; and building government capacity to manage marine resources and mobilize private sector finance.
“PROBLUE financing is extremely important for the economic and environmental sustainability of São Tomé and Príncipe. PROBLUE not only financed flood studies but also studies on sand mining elimination roadmap related to alternative materials for civil construction activities,” said Arlindo de Carvalho, Program Coordinator at the Ministry of Environment in São Tomé and Príncipe. “I want to sincerely thank all the support that PROBLUE has been giving to Sao Tomé and Príncipe in its sustainable development process.”
Since its inception in 2018, PROBLUE has helped both countries and World Bank Group operations mainstream a Blue Economy approach. Analytical work, innovative tools, co-financing, and expertise guide global policy reforms aimed at harnessing ocean resources for economic growth while maintaining ocean health. PROBLUE also informs global agendas such as implementing WTO fisheries subsidies agreements and negotiating an international legally binding instrument on plastic pollution.
As of March 2024, PROBLUE has increased its overall portfolio of technical activities to $152 million in support of 223 activities in 89 economies. It drives intellectual leadership on Blue Economy issues underpinning policy decision-making through hundreds of knowledge products, tools, workshops, and training sessions. Insights gained from PROBLUE's work often lead to investments and policy reforms essential for sustainable development in thriving oceans. Every dollar of PROBLUE grant resources has leveraged $49 in World Bank financing.
The World Bank acknowledges generous contributions from its donor partners and looks forward to continued collaboration with existing and new donors pursuing a sustainable future for oceans.
For more information on the PROBLUE fund and its activities: https://www.worldbank.org/en/programs/problue
ANNEX: Quotes from donor partners
PROBLUE’s twelve donor partners are: Australia, Canada, Denmark, European Commission, France, Germany Iceland Ireland Norway Sweden United States United Kingdom
“Through Sweden’s strengthened engagement in PROBLUE we contribute to creating better living conditions for people living in poverty that are dependent on ocean,” said Jakob Granit Director General Swedish International Development Cooperation Agency (Sida). “PROBLUE’s work will result in investments creating more blue jobs improved health climate-smart low-carbon development.”
“Canada is contributing an additional 5 million Canadian dollars,” said Tom Bui Director Environment Division Global Affairs Canada.
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