St. Vincent and the Grenadines is one of five countries expected to benefit from financial support from the Caribbean Biodiversity Fund (CBF), through the Caribbean Blue Economy Financing (BluEFin) project.
Five innovative Blue Economy initiatives will receive seed funding following a competitive Call for Proposals which attracted 74 submissions across the region.
The BluEFin project supports innovative initiatives that create sustainable economic opportunities while delivering measurable benefits for biodiversity and climate resilience.
One initiative has been selected from each of the five eligible BluEFin countries of The Bahamas, the Dominican Republic, Grenada, Saint Lucia, and Saint Vincent and the Grenadines.
The selected projects which span a range of Blue Economy solutions across the region will receive grant financing of up to USD 250,000.
In Saint Vincent and the Grenadines, Action Bequia Inc. will lead the SVG Circular Blue Economy Initiative, establishing a Waste-to-Product Incubator to support eco-entrepreneurs and small businesses working in plastic upcycling and re-purposing, while reducing marine pollution and plastic leakage.
The Caribbean BLUEFIN Project creates and strengthens nature-based blue economy opportunities and approaches in the region through innovative financing mechanisms
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