Expected results include:

1. Private sector investment in a US$10M blended finance facility for effective management of 30 Locally Managed Marine Areas (LMMAs) in Fiji. The JP will accelerate the short-term investment readiness of a pipeline of 10 LMMA projects ($3.1M target) and bring the wider pipeline to market ($10M target). Business model include reef-first businesses such as eco-tourism, visitor centers, sustainable fisheries and blue carbon credits.
2. Private sector investment in a $14M blended finance facility for sanitary landfill project before replicating the approach to other landfill projects in the country.
3. Private sector investment in an eco-fertilizer factory before replicating the approach to other five reef-first SME projects in the pipeline.
4. Established and operational gender-responsive Technical Assistance Facility (TAF) for blue economy SMEs and financial instruments. The TAF will:
   • Bring expertise during the pre-investment and post-investment life cycle of the Blue Economy SMEs
   • Aggregate and pool investments and other financial instruments, reducing transaction costs and reducing risk profile
   • Work with Government to improve regulatory framework
   • Fundraise development and private finance
5. Leveraged a total of $50M in public and private investments in reef-first SMEs and financial instruments.
6. Measurement and verification of positive economic and environmental impacts to vulnerable coastal communities (>70,000 beneficiaries) and coral reefs, of which 50% will be women and youth.

Announcement:

Call for proposals: Building Back Blue - Blue Accelerator Grant Scheme Fiji 2022