Da Nang, Viet Nam - The Global Environment Facility (The GEF) has approved US$ 15 million in funding to assist continued management of the large marine ecosystem in the Bay of Bengal in order to help sustain ecosystem services for the benefit of the coastal populations and countries.

The ultimate goal is to help safeguard ecosystem services that are estimated to be worth around US$ 240 billion over the next 25 years, and reinforce nutrition and livelihoods for hundreds of millions of people in the region.

Transboundary marine resources are particularly complex as there is a broad range of stakeholders with whom to consult. At the same time, these resources are affected by a wide range of issues, from overfishing and Illegal, Unregulated and Unreported (IUU) fishing, to habitat degradation, water pollution and climate change.

The FAO led project, Sustainable Management of the Bay of Bengal Large Marine Ecosystem (BOBLME), was first launched in 2009 to enhance the regional management of the area’s environment and fisheries sector. In addition to the GEF funding, the Governments of Sweden and Norway had provided financial resources in support of the project’s initial phase 2009 – 2017.

The new GEF funding will help FAO and its partners to continue working with national and local government agencies, commercial fishers, artisanal fisher-folk, academic institutions and local NGOs to further develop capacities of these groups to plan and implement a holistic ecosystem approach to the management of these resources.