NDF announces its contribution of EUR 8.5 million to the Ocean Resilience and Coastal Adaptation Trust Fund (ORCA) that is managed by the Asian Development Bank.
The world’s oceans and coastal areas are extremely vulnerable to climate change and natural hazards, with an immediate impact on the health of marine and coastal ecosystems, livelihoods, and economic growth or the blue economy.
In the Asia-Pacific region, the rising sea level is expected to create challenges to new and existing critical infrastructures. The Ocean Resilience and Coastal Adaptation Trust Fund (ORCA TF) is a multi-donor trust fund set to address the financing gap and catalyse investments needed to strengthen the resilience of coastal areas to climate change and to promote sustainable blue economies in the Asia-Pacific region.
“By investing and catalysing large-scale climate adaptation funding in the blue economy and coastal areas, NDF contributes to the well-being of our oceans. This Fund will improve the socio-economic conditions of people in the Asia-Pacific region, especially women and girls, who are hardest hit by climate-related shocks”, says Boleslaw Stawicki, NDF Program Manager.
The Fund will be managed by the Asian Development Bank, NDF’s long-standing partner. NDF is happy to contribute a total of EUR 8.5 million to the Fund, alongside other partners, such as the United Kingdom and the Global Environment Facility.