Blue finance is designing with key actors a co-management agreement for the Protected Areas (PAs) of Antigua&Barbuda.
The agreement will cover 150km2 of coastal marine ecosystems and 30km2 of terrestrial ecosystems. The PAs are expected to restore A&B’s biodiversity, improve their attraction for the tourism industry, create significant job opportunities (in tourism, fishery and agro-forestry sectors) and provide protection from sea level rise, flooding and drought.
The PAs require sustainable financial investments and human resources for efficient management. Recently, in collaboration with Bf and local and international investors, recommendations have been made to the Government for the management and financing of the Protected Areas without an increase in public investment. The A&B PAs are proposed to be co-managed with a local non-profit company, via an Operate, Maintain&Manage (OMM) agreement. This approach will reduce the financial burden on the Government as well as improve the entrepreneurial approach of the PAs.