Background

Blue finance in Antigua & Barbuda

Blue finance is partnering with key actors to implement a co-management agreement for all the Protected Areas (PAs) of Antigua&Barbuda.

The agreement will cover 152km2 of coastal marine ecosystems and 32km2 of terrestrial ecosystems. The multi-use Protected Areas (PA) of the sister island of Barbuda (which encompasses all of its marine resources) are also included.
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 providing 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. This is without an increase in public investment. The A&B PAs are proposed to be co-managed with a private operator, via an Operate Maintain and Manage (OMM) agreement. This approach will reduce the financial burden on the Government as well as improve the entrepreneurial approach of the PAs.
Background