The Bahamas has announced the creation of a social and inclusive blue economy with a coordinated approach to climate change and risk solutions, environmental sustainability and economic growth, through strengthening ocean ecosystems and optimising the use of marine resources.

The IDB has provided a $200 million guarantee in support of policy reforms, which, leveraged by resources from international capital markets, will contribute to cover budget needs in environmental and social aspects, among others.

This operation will finance a project to promote a healthier and more productive ocean, and includes reforms and actions to foster the recovery of micro, small and medium-sized enterprises (MSMEs) business activity in the blue economy and potential investment projects suitable for blue bond financing. It also includes reforms to promote digitalisation in the blue economy; strengthen the resilience of the blue economy by optimising climate risk management in coastal and offshore areas; boost better management of marine resources; and reduce marine pollution.