The rehabilitation of Indonesia’s coral reefs will receive more than US$62 million of additional funding from the Coral Reef Rehabilitation and Management Program – Coral Triangle Initiative project.
Washington DC – infoZine – The World Bank’s Board of Executive Directors approved US$47.38 million in financing for the project – the conclusion of a three-phase program which began in 1998. The Project is also supported by a US$10 million grant from the Global Environment Facility (GEF), and the Government of Indonesia has pledged US$5.74 million for the 5-year project.
Almost two-thirds of Indonesia’s coral reefs are considered threatened from overfishing, and almost half are considered threatened specifically from destructive fishing practices...
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