Background

Poised and waiting for the BMMA designation in Barbados

Work in Barbados continues, as we wait for the designation of the BMMA.  Meetings continue to be held with stakeholders from the fishing, diving and marine service provider communities.

Three Ministries are now supporting the process: Environment, Tourism and Industry, International Business, Commerce and Small Business Development with the Ministry of  Economic Affairs acting as a legal and financial advisory institution. A working group has been established, led by tourism to forward the Co-Management Agreement.

In the interim, plans for catch monitoring with Fishers, new Income Generating Activities (IGAs) and Payment for Ecosystem Services are being developed. In addition, the Facebook Page (www.facebook.com/BarbadosMMA) continues to educate and collect “likes” for the proposed Barbados Marine Management Area.

From the Investors side, the business plan has been finalized and the term sheet is in negotiation with impact investors regarding the financing (mix of debt/equity).

We’re all set for Barbados from our end, with the development of the Co Management Agreement, International Investment, Local Investment, National Stakeholder Consultations, Draft Management Plan, Public Task Force…all poised and waiting for the designation.