The Caribbean Challenge Initiative (CCI) & Caribbean Biodiversity Fund (CBF), July 2016
Synergies with the Blue finance approach are being explored with the CCI and CBF as the approach could provide complementary and very relevant actions to the efforts .
The CCI was launched in 2008 with support from The Nature Conservancy (TNC). The ten participating countries and territories have committed to:
-conserving at least 20% of their nearshore marine and coastal environments in national marine protected areas systems by 2020; and
-creating National Conservation Trust Funds, endowed by new sustainable finance mechanisms (such as tourism fees), dedicated to solely to funding park management (http://www.caribbeanchallengeinitiative.org/)
The CBF, which was launched in September 2012 is a regional endowment fund whose objective is to provide a sustainable flow of funds to support activities that contribute substantially to the conservation, protection and maintenance of biodiversity within the national protected areas systems or any other areas of environmental significance of its participating countries (http://www.caribbeanbiodiversityfund.org/en/about-Es cbf)