European Investment Bank promotes ocean and blue economy initiatives

Several projects aimed at improving the seas and the blue economy are being backed by the European Investment Bank (EIB).

These include:

• Reducing pollution discharged into the ocean by investing in cleaner ships and biofuel projects, sustainable production of seafood and the recovery of many damaged coastal areas.
• Supporting investment funds that improve sustainable operations of small-scale fisheriesaround the world.
• Being a principal player in the creation of the Sustainable Blue Economy Finance Principles. These principles explain how to make sure investments do not hurt marine life or coastal development or erode the ocean’s health.

Furthermore, the EIB and the Asian Development Bank signed a memorandum to set up the Clean and Sustainable Ocean Programme, which aims to support initiatives on sustainable oceans and the blue economy in the Asia-Pacific

The Clean Oceans Initiative was also launched to provide more lending to the public and private sectors for projects that reduce the discharge of plastics into the oceans.

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