Progress report for
Support to the World Bank programme PROBLUE
Achievement at a glance
Since its inception in 2019, PROBLUE has developed a $183 million portfolio with 275 activities in 100 economies around the world. Working across four pillars on fisheries and aquaculture, marine pollution, oceanic sectors, and seascape management, this has resulted in: 1) improved regional collaboration: 49 countries with strengthened regional engagement in the blue economy; 2) improved investments: the fund has supported World Bank investments with $26 billion to make them "bluer"; 3) improved capacity: 700 capacity-building events with over 12,000 participants held; and 4) better policies and plans: 56 policies and plans that improve blue economy development have been informed by PROBLUE. PROBLUE has a total of 12 donors. Example of achievements: in 2024, PROBLUE supported several countries in assessing and developing innovative financing tools to increase finance volumes, such as blue bonds. For instance, in Indonesia they are supporting the development of a coral bond. The bond will channel private sector investments to ocean conservation in pilot marine protected areas. A study developed coral bond impact metrics and a data management system along with a monitoring protocol for coral cover and reef fish biomass. PROBLUE is also supporting the establishment of accessible and affordable insurance for the marine fisheries sector using parametric insurances in India, while in the Caribbean, it is supporting the inclusion of nature-based solutions and marine ecosystems in catastrophe risk models and assessments and insurance instruments.Next Steps
Johanne FremstadBeneficiaries
There is a wide range of beneficiaries in this programme, including developing country governments, both local and national levels, but also coastal communities and people involved in the sectors that the fund supports.