3 Sep 2012

World Bank announces plans for a Pacific Islands ocean package

8:07 am on 3 September 2012

The World Bank has announced plans for a Pacific Islands ocean investment package to be supported by a number of partners from the Global Partnership for Oceans.

The GPO is a coalition of more than 120 countries and organizations, including the World Bank, that has come together to improve the health of the world's oceans.

This investment package, under the GPO, will build on existing ocean activities in the region such as the Pacific Oceanscape Framework.

The proposed investment package is being discussed with leaders from eight Pacific countries.

It would target priorities where financing gaps have been identified or where innovation and private sector engagement could help to transform markets for ocean goods and services toward greener production.

This may include support for, improved governance of tuna fisheries to ensure greater benefits for countries and the environment; creating value chains and sustainable jobs in near-shore fisheries and coastal development; protecting and restoring critical habitats for biodiversity and building ecosystem resilience;

Reducing pollution through control of sedimentation, recycling and waste management.

The Pacific Ocean is the world's largest ocean area and home to the largest remaining tuna stocks.