OFC will use blended finance for the commercial end-to-end development, financing and management of marine protected areas (MPAs) and coastal and marine ecosystems, fish stocks improvements, biodiversity conservation and reduction of atmospheric concentrations of carbon dioxide.
Our Development Partner
Oceans Finance Company (OFC)
We Invest
2.0 million
Development Funding
USD 75.8 million
Forecasted Construction Funding
Estimated Project Impact
14,000,000 HA ecosystems protected / under sustainable management
CI2 E&S Rationale
The Project has been assigned a B+ rating which reflects the potential for largely reversible social or environmental impacts that can be addressed through relevant mitigation measures.
Funding Objective
Under a development finance agreement, CI2’s Development Fund has approved an investment of up to USD 2 million, which will finance the majority of the remaining development costs of the project and the development of similar transactions envisaged by OFC throughout Africa, Latin America and Asia.
Environmental & Social Category
B+
Sector
Marine Ecosystem Management
Region
Africa & Latin America
Business Model
MPA (Marine Protected Areas)
Why Climate Investor Two Wants to Invest in This Project
The OFC project ensures the protection of this valuable scientific and natural resource by managing and enforcing an expanded marine reserve. The project will undertake blue carbon, coral, and mangrove restoration projects, improve coastal zone policies and protection regimes, and solidify the social resiliency of communities to the future effects of climate change.
