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A new conservation trust fund for marine protected areas in the Mediterranean

The MedFund

By IW:LEARN

December 23^rd, 2020

With only 1% of the surface of the oceans, the Mediterranean Sea is home to a rich biodiversity representing 10% of the global marine species. In this region under many human pressures, the Marine Protected Areas (MPAs) cover 6.81% (MAPAMED Database 2016, MedPAN/SPA-RAC) of the Mediterranean, with only a small portion of them that are managed effectively due to a lack of funding and institutional support.

To address this situation, France, Monaco, Tunisia, and Prince Albert II of Monaco Foundation decided to set up an environmental fund dedicated to Mediterranean MPAs.

Thanks to the commitment of partners and with the support of the Global Environment Facility (GEF) International Water (IW) focal area, and an alliance of donors gathering Fonds Français pour l’Environnement Mondial (FFEM), Prince Albert II of Monaco Foundation and Agence française de développement (AFD), The MedFund was established and the capitalization was initiated.

This year 2020, the fund has started the implementation of its strategy for the long-term support of MPAs management effectiveness. The Board of Directors approved a funding of €2.7 million for eight Marine Protected Areas in Tunisia, Albania, Turkey, and Morocco to strengthen core management activities over the next five years.

With the objective to promote co-management of the MPAs, this funding will be granted to local civil society organizations working alongside national agencies in charge of protected areas.

A new conservation trust fund for marine protected areas in the Mediterranean

In a global context shaken by a combined health and economic crises, The MedFund allows to deploy and maintain on the field teams working for the protection of 3000 km2 of Mediterranean marine areas, sustaining the gains in conservation made in recent years.

Following a responsible investment policy, The MedFund raises funds and invests its capital over the long term in Socially Responsible Investment generating revenues that are used to fund field activities contributing to build back a blue and stronger Mediterranean.

With a capitalization target of 30 million euros by 2025, The MedFund aims at supporting 7000 km2 of coastal and marine protected areas contributing to the conservation of a unique biodiversity hotspot and fostering regional cooperation between southern, northern, and eastern shores of the Mediterranean sea.

The MedFund is the executing partner for the GEF IW project "Long-term financial mechanism to enhance Mediterranean MPA management effectiveness." The GEF has provided close to a million USD project grant, to support pilot countries in the region, namely Albania, Morocco, Tunisia.

The project enabled the expansion and consolidation of regional and national cooperation among members of The MedFund; the structuring of the institutional strategy, legal framework, operational guidelines, and asset management approach of this conservation trust fund; as well as the funding of pilot projects on the ground.

A follow-up project is being developed relying on a unique alliance between a regional conservation trust fund, The MedFund, and a regional network of marine protected areas managers, MedPAN, in order to provide long-term socio-ecological benefits in the Mediterranean in a post COVID recovery context.