GFCR Regional Webinar Series

The GFCR Regional Webinar Series will showcase results, lessons learned, and emerging opportunities from the Global Fund for Coral Reefs portfolio across the Western Indian Ocean, Americas, and Asia-Pacific regions.

Through regional presentations and partner panel discussions, the series will highlight practical insights on reef-positive finance, coral reef resilience, and benefits for coastal communities.

Register for remaining sessions:

Asia and Pacific Islands Session — Financing reef-positive businesses

24 June 2026, 14:00 KST / 23 June 2026, 22:00 PDT

Recordings:

Latin America and the Caribbean Session — Addressing overfishing through blended finance

10 June 2026

Indian Ocean Session — Finance mechanisms for MPA management

3 June 2026

Summaries:

Latin America and the Caribbean Session — Addressing overfishing through blended finance

The second session of the GFCR regional webinar series focused on Latin America and the Caribbean, exploring how blended finance can help address overfishing, strengthen reef-positive fisheries, and support coastal communities. The discussion highlighted experiences from Honduras and Colombia, with a focus on concessional loans, guarantees, parametric insurance, fisher association strengthening, ecological data collection, and long-term conservation finance.

Andrew Rylance opened the session by framing the webinar series as an opportunity to examine practical lessons emerging across the GFCR portfolio. He emphasized that blended finance can help address coral reef degradation by supporting reef-positive solutions, mobilizing public and private capital, and strengthening the finance mechanisms needed to sustain conservation and community benefits over time.

Rammahi Al Rammahi then provided an overview of GFCR portfolio progress and regional results. He highlighted that the GFCR portfolio has already supported 151 reef-positive businesses and mechanisms, increased resilience for 6.1 million community members, supported 2,486 direct jobs, improved management across 1.8 million hectares of coral reef, and supported 19.9 million hectares of marine protected areas and locally managed marine areas.

For the Latin America and Caribbean region, he noted progress across the Mesoamerican Reef, Colombia, and the Bahamas. In the Mesoamerican Reef region, the programme has supported ventures, provided financial assistance to companies, deployed blended finance loans, mobilized private capital, mapped women-led ventures, and advanced a Clean Water Fund concept. In Colombia, the Fi Wi Riif programme has operationalized the Fi Wi Riif Investment Account, financed reef-positive enterprises across fisheries, tourism, diving, and the circular economy, and advanced conservation agreements with fisher associations. In the Bahamas, the programme has generated revenue through the Bahamas Protected Reef Fund, advanced reef insurance design, supported a Blue Economy Accelerator, and contributed to coral restoration through Coral Vita.

Panel Discussion

Karla Gallardo — Viwala

• Karla explained that Viwala is working in Honduras to help bridge the gap between small-scale fishing groups and local financial institutions. She emphasized that the challenge is not simply a lack of access to credit, but a deeper absence of basic financial infrastructure.
• Many small-scale fishing groups do not have tax identification numbers, bank accounts, formal credit histories, or reliable income records. This makes it difficult for financial institutions to assess risk, and also makes it difficult to design loans that fishers can realistically repay.
• Karla described this as a problem of “financial invisibility.” Fishing groups may generate income and economic value, but without reliable records of catch volumes, sales, income, and costs, it is difficult to understand repayment capacity or avoid overloading communities with debt.
• She explained that loan design therefore cannot focus only on terms such as interest rates, repayment periods, ticket sizes, or guarantees. Instead, Viwala is working toward a “360 solution” that includes guarantees, small and short-term loans, data collection during the loan period, parametric insurance, and local partnerships.
• The guarantee is intended to open the door for financial institutions by reducing their perceived risk. The loans are expected to begin with small ticket sizes and short terms, allowing both fishers and lenders to build trust and experience over repeated loan cycles.
• Karla also emphasized the importance of parametric insurance. Because fishers may be unable to work during climate-related events, such as periods of high winds, insurance can help reduce the risk of default when weather conditions prevent fishing activity and disrupt income.
• She stressed that local financial institutions and local organizations must be part of the solution. The aim is not only to provide finance, but to leave behind a functioning local ecosystem of institutions, partners, and capacities that can continue supporting small-scale fishers over time.
• On scalability, Karla noted that the Honduras pilot is still in an early stage, but the model may be adaptable to other countries in the Mesoamerican Reef region. She observed that financial institutions are already familiar with lending to agricultural groups, and some are interested in fisheries but do not yet know how to assess or manage the risks.
• She also noted that there are already fragmented efforts by NGOs, savings groups, fisher organizations, and financial institutions. The opportunity is to connect these efforts through blended finance structures that combine private capital, guarantees, parametric insurance, technical assistance, and patient implementation.
• During the Q&A, Karla addressed the challenge of sourcing catalytic capital. She explained that Viwala often applies to calls for proposals, works with foundations and organizations interested in the impact theme, engages multilaterals, and sometimes works with family offices at later stages. She emphasized that catalytic capital is easier to mobilize when partners can show the broader vision and long-term pathway, rather than presenting only a short-term funding need.

Erlid Arroyo Newball — I-FISH Association

• Erlid brought the perspective of the Old Providence and Catalina Islands Association for Independent Fishers, known as I-FISH. He explained that I-FISH began in 2018 when artisanal fishers came together to form an organization that could support fishing livelihoods, strengthen community organization, and defend the territory and marine ecosystems on which they depend.
• He noted that artisanal fishing is not only an economic activity, but also part of the culture and identity of the islands. For many families in Providencia and Santa Catalina, fishing is inherited from parents and grandparents and remains central to local livelihoods.
• I-FISH has grown into a significant community organization, with 256 active fisher members. When the families of those fishers are considered, the organization represents a substantial portion of the population of Providencia and Santa Catalina.
• Erlid explained that I-FISH helps fishers think beyond day-to-day fishing income. The association supports better administration, stronger commercialization, better prices for products, and improved opportunities for fisher families.
• He also described the role of I-FISH after Hurricane Iota in 2020. The association helped reactivate the local economy, rebuild boats and gear, support emergency needs, and help the community recover after the hurricane caused major damage across the islands.
• Erlid emphasized that I-FISH is working to improve fishing practices without increasing pressure on the ecosystem. This includes supporting better boats, better gear, improved technology, food safety, and processing capacity, while respecting closed seasons, protected species, size limits, no-take zones, and no-entry areas.
• He also highlighted the challenge of illegal and industrial fishing by external vessels, which creates pressure on marine ecosystems and undermines the efforts of local artisanal fishers. For iFish, protecting the reef and defending the marine territory are closely linked to protecting livelihoods and future generations.
• When asked what funders and finance partners should understand, Erlid emphasized that artisanal fishers face very different conditions from conventional businesses. Their income is affected by weather, climate risks, closed seasons, illegal fishing, and unpredictable catch levels.
• He cautioned that rigid loan structures can create serious risks for fishers. If loans are not adapted to the realities of fishing livelihoods, fishers may lose assets such as houses, boats, gear, or other property.
• Erlid encouraged finance partners to design support in a more flexible and understanding way. He emphasized that fishers need access to finance, but finance must reflect the real constraints of the sector, the environmental stewardship role of fisher organizations, and the community value of artisanal fishing.

Magda Manuela Masquita Mc Keller — Fondo Acción / Fi Wi Riif

• Magda discussed the Fi Wi Riif programme in Colombia, with a focus on the Seaflower Biosphere Reserve and the islands of Providencia and Santa Catalina. She explained that the archipelago is one of the most ecologically significant areas of the Colombian Caribbean and contains some of the healthiest coral reef systems in the region.
• At the same time, she noted that ecological data collection is challenging because the islands are small, isolated, and logistically difficult to access. Collecting data in remote reef areas requires coordination, boats, equipment, specialized personnel, and appropriate weather conditions.
• To address this, the Fi Wi Riif programme uses standardized ecological data collection methodologies recognized by INVEMAR, Colombia’s marine and coastal research institute. This allows data to remain consistent, comparable, and useful over time, regardless of who collects it.
• Magda explained that the programme works closely with Coralina, the environmental authority in the archipelago and Seaflower Biosphere Reserve, as well as INVEMAR and other partners. These partnerships provide technical credibility, methodologies, equipment, expertise, and institutional continuity.
• She also highlighted the use of the MERMAID platform to store and manage ecological data. The programme includes data-sharing requirements in agreements with partners, helping ensure that data is not lost or treated as the property of a single consultant or organization.
• On the connection between conservation objectives and enterprise support, Magda emphasized that reef-positive businesses are accompanied by Fondo Acción and local partners, including foundations working on community and environmental issues, as well as national parks and Coralina. This technical assistance helps ensure that enterprise development remains focused on ecosystem protection and conservation outcomes, not only financial performance.
• Magda then discussed the Seaflower Fund, describing it as a major achievement after more than 20 years of efforts by Coralina and local partners to create a long-term financial mechanism for the Seaflower Biosphere Reserve.
• The fund is built around two connected accounts. The first is an endowment account, which is intended to generate long-term financing through returns on invested capital, with a target of US$5 million. The second is a sinking account, which supports immediate spending on community initiatives, ecosystem restoration, marine protection, and conservation activities on the ground.
• She explained that the Seaflower Fund has made progress in establishing its governance structure, including a governing body with Coralina, Parques Nacionales Naturales, and donors. GFCR has also committed matching resources up to US$1.5 million, while Fondo Acción has committed additional funding.
• Magda also noted progress through support from the Blue Action Fund and the design of a blue carbon project with support from Avianca. The blue carbon project would allow companies to offset emissions by supporting mangrove restoration and conservation, with revenues flowing into the Seaflower Fund’s sinking account.
• However, she emphasized that fundraising remains a major challenge, especially for capitalizing the endowment account. One proposed source of funding is a percentage of the tourism entry fee paid by visitors to San Andrés, which Magda argued should help protect the ecosystems that draw tourism to the islands.
• She noted that this has been difficult because those resources are currently directed toward infrastructure and public services. Government instability and leadership changes have also complicated the process, requiring renewed engagement with new administrations.

The webinar highlighted several shared lessons across the region. First, addressing overfishing through blended finance requires much more than creating financial products; it requires formalization, data, technical assistance, guarantees, insurance, and local institutional capacity. Second, small-scale fishers need financial tools that reflect the realities of seasonal, climate-sensitive, and often informal livelihoods. Third, fisher associations are not only potential borrowers, but essential partners in conservation, governance, cultural continuity, and community resilience. Fourth, ecological data and trusted local partnerships are critical for linking enterprise support to measurable conservation outcomes. Finally, long-term reef finance depends on governance, local ownership, flexible capital, and patient implementation that can adapt to changing political, ecological, and community conditions.

Indian Ocean Session — Finance mechanisms for MPA management

Additional Q&A Responses

How do you explain reef-positive to investors or donors? we've got feedback that the term is not familiar for them

Nicolas: You need to approach the investors with a classic information memorandum presenting the business model, the team, the risks, the financials.. . the impact / reef-positive aspect shall be only 10% of it, in an impact chapter.

One challenge we are encountering in Sri Lanka is that many reef-positive businesses and community enterprises require relatively modest amounts of capital, while many blue finance instruments such as blue bonds tend to operate at much larger ticket sizes. Have you found successful mechanisms for bridging this financing gap and supporting smaller community-led enterprises? Are there any models or lessons learned you would recommend?

Nicolas: One solution is to aggregate several businesses in a facility. This simplifies the investment process, lowers transaction costs, and creates efficiency and economies of scale. Further, it reduces the investment risk through diversification across revenue models and MPA projects, improves the quality of project design and execution, and helps investors to transparently monitor their impacts.

Hee Sung: The Blue Bond in Fiji is a great example of this. In Fiji, when the Government launched its sovereign blue bond in 2023, it sized the issuance to match a pipeline of identified projects. The bond was ultimately oversubscribed by domestic institutional investors.

At the same time, the Government recognised that many blue economy enterprises were too small or lacked sufficient collateral to access conventional lending. One of the projects initially considered for financing through the blue bond was a dedicated facility with the Fiji Development Bank that would provide concessional finance or grant support to help address the collateral and equity gap faced by smaller enterprises. While this component was ultimately deferred to a potential second bond issuance.

To Nicolas’s point, the Fiji experience shows that these blue finance instruments often need an intermediary layer - such as the development bank in Fiji’s case or Blue Alliance’s financing arm - to aggregate demand and reach smaller enterprises.

The Seychelles Blue Bond also established the Blue Grants Fund, managed by SeyCCAT.

Summary

The first session of the GFCR regional webinar series focused on the Indian Ocean and Red Sea region, exploring how different financing mechanisms can support marine protected area management, reef-positive enterprise development, and long-term conservation outcomes. The discussion highlighted experiences from Sri Lanka, Egypt, Tanzania/Pemba, and Seychelles, with a focus on conservation trust funds, blended finance platforms, blue enterprise models, debt-for-nature mechanisms, and private sector engagement.

Andrew Rylance opened the session by framing the webinar series as an opportunity to examine what is working across the GFCR portfolio, then Gabriel Grimsditch then provided an overview of GFCR’s global and regional implementation progress, highlighting emerging progress across several programmes.

Panel Discussion

Shamen Vidanage — IUCN Sri Lanka

• Shamen explained that Sri Lanka’s approach under the GFCR-supported Sri Lanka Coral Reef Initiative is shifting from a narrow protected area focus toward larger seascape-level management. This allows government agencies, NGOs, local communities, and other stakeholders to collaborate around marine protected areas and address broader pressures affecting reef ecosystems.
• He noted that Sri Lanka does not yet have precise figures for MPA financing needs, but based on national biodiversity finance gap estimates, the marine financing gap may be around US$30 million. For the GFCR focus areas, which cover around 20% of this marine area, the estimated financing gap is approximately US$1.5 million per year.
• A major milestone is the establishment of the Coral Conservation for Lives and Livelihoods Conservation Trust Fund, created as a charitable trust under Sri Lankan law. The fund is designed to provide an independent, transparent, accountable, and flexible financing mechanism for marine protected areas. GFCR is providing US$321,000 in seed capital, with the intention that future funding will come from local and international partners, reef-positive businesses, and innovative financing mechanisms.
• Shamen emphasized that the fund will help bridge financing gaps by supporting interventions identified through seascape management plans. Although the process took time because Sri Lanka had not previously had this type of mechanism, he described it as a strong and credible platform for coordinated marine conservation finance.

Yomna Mohamed — UNDP Egypt / Egyptian Red Sea Initiative

• Yomna described Egypt’s reef and MPA financing gap as multi-layered. The first layer is the recurrent cost of effective protected area management, including ecological monitoring, ranger capacity, enforcement support, and operational budgets. These are essential for reef protection but are not usually commercially attractive.
• The second layer is the cost of transition toward reef-positive development, especially in the tourism sector. Many operators may be willing to shift practices but lack the capacity, financing, or incentive to invest alone, particularly where collective action is needed.
• The third layer is the investment pipeline. While there is growing interest in the blue economy and nature-based solutions, many businesses are not yet investment-ready or do not have access to the right financing instruments.
• Yomna explained that the Egyptian Fund for Coral Reefs is being designed not as a single pot of money, but as a blended finance platform able to respond to different needs: grant-like support for conservation priorities, and more commercial finance for bankable reef-positive solutions. She stressed that the fund is not only about mobilizing money; it is also about solving a coordination challenge by connecting public sector stewardship, protected area priorities, donor finance, and investable opportunities.
• On private sector engagement, Yomna emphasized that businesses should be seen both as co-investors in conservation and as actors whose long-term commercial strategies depend on healthy coral reefs. She also noted that Egypt’s Red Sea tourism landscape is diverse, so incentives and cooperation models need to be customized depending on whether areas are already overcrowded, at risk of future degradation, or linked to specific “house reefs” and shared reef assets.

Nicolas Pascal — Blue Alliance

• Nicolas presented the Blue Alliance model, which combines two distinct but connected arms: a non-profit arm that manages large MPAs through long-term government mandates, and a business arm that develops reef-positive enterprises around or within those MPAs. He explained that Blue Alliance created this separation because conservation management and enterprise development require different skills, mindsets, teams, and operating models.
• Blue Alliance’s model focuses on developing blue economy businesses in sectors such as aquaculture, fisheries, tourism, and potentially blue carbon. These are intended to be “missing middle” enterprises, not small livelihood projects or large corporations, but businesses capable of generating US$2–4 million in annual revenue, creating jobs, and eventually contributing profits back into MPA management.
• In Pemba, Blue Alliance is developing a portfolio of reef-positive businesses, including sea cucumber aquaculture, underwater tourism, eco-cruise opportunities, octopus fisheries, and blue carbon opportunities. Nicolas noted that Blue Alliance has already mobilized debt financing, refundable grants, and grants through a blended finance structure of around US$6 million, with an ambition to grow this to US$12 million.
• He pointed to Belize as a proof point, where an ecotourism business helped generate around 60% of the annual budget for an MPA after several years. He also stressed the importance of independently verified impacts on nature, people, and climate to build credibility with investors and donors.
• On enabling conditions, Nicolas said Blue Alliance uses a detailed selection process for MPAs, considering ecological criteria, threats that can realistically be addressed, governance conditions, the possibility of long-term public-private partnership agreements, local NGO and community support, and business potential in sectors such as aquaculture, tourism, and fisheries.
• When asked about attracting private investors, Nicolas emphasized that investors require financial returns, even if they are impact-first. To attract private capital, projects need bankable business models, credible teams, a track record, and the ability to speak the language of investors.

Helena Sims — Seychelles Conservation and Climate Adaptation Trust

• Helena described the Seychelles Conservation and Climate Adaptation Trust as a globally recognized model because it combines innovative finance, strong governance, national ownership, and alignment with policy priorities. She emphasized that SeyCCAT is not just a funding mechanism, but a system linking debt restructuring, conservation commitments, and local implementation.
• SeyCCAT was capitalized through the world’s first debt restructuring for marine conservation in 2016, which converted part of Seychelles’ debt into long-term financing for marine conservation. This created predictable, multi-year funding that is not dependent solely on short-term donor cycles. The mechanism was linked to national policy commitments, including Seychelles’ 30% marine protection goal and marine spatial planning process.
• Helena also highlighted SeyCCAT’s role in managing the grant component of the Seychelles sovereign blue bond, issued in 2018. She explained that SeyCCAT’s effectiveness comes from its independent trust structure, standalone legislation, national anchoring, Seychellois-led board, and multi-stakeholder governance. This balance provides credibility with donors while maintaining national legitimacy and ownership.
• SeyCCAT uses both strategic grants aligned with national policy commitments and competitive grants accessible to local communities, NGOs, individuals, and government entities. This has helped build local conservation capacity and support implementation on the ground.
• Looking ahead, Helena said Seychelles is moving from pioneering individual instruments, such as the debt swap and blue bond, toward a broader blue finance architecture. Future priorities may include layering parametric insurance, carbon and biodiversity markets, blended finance, and endowment growth around national priorities, including the marine spatial plan, 30% protection goal, and NDCs.
• During the Q&A, Helena also emphasized that any external business, NGO, or research organization seeking to work in Seychelles must understand the national context and partner with strong local entities. In Seychelles, international actors are generally expected to work through or with local NGOs, especially for implementation, research, and MPA-related activities.

The webinar highlighted several shared lessons across the region. First, sustainable MPA finance requires more than a funding mechanism; it depends on governance, legal structures, national ownership, institutional credibility, and alignment with conservation priorities. Second, reef-positive businesses can contribute to MPA sustainability, but only where business models are genuinely viable and linked intentionally to conservation finance. Third, private investors require bankable opportunities, clear returns, and credible teams, while many conservation needs still require grant or concessional support. Finally, locally grounded partnerships are essential: finance mechanisms and enterprise models must be adapted to national contexts, community needs, and policy frameworks.