Blue Economy Accelerator Fund launched to assist coral reef-friendly businesses in FSM, Marshall Islands

The Marshall Islands Development Bank, the Federated States of Micronesia Development Bank and The Nature Conservancy Micronesia and Polynesia have joined forces to support reef-positive businesses in Marshall Islands and FSM.

The partnership has established the Blue Economy Accelerator Fund, which will bring funding from the banks and technical and financial expertise from TNC to support community business startups or expand existing businesses that will also benefit coral reef ecosystems.

The Blue Economy Accelerator Fund will enable micro, small, and medium enterprises to access investment capital to scale up their business models. These funds are intended to support reef-positive businesses including aquaculture and waste management work that will benefit coral reefs.