ADB to Help Step Up Resource Management in Threatened Coral Triangle
One of the world's most diverse and threatened marine ecosystems - the Coral Triangle - is getting Asian Development Bank (ADB) support to improve management of its rich resources and to provide job alternatives for people living in the coastal communities.
ADB has approved assistance of around $12 million for the Coastal and Marine Resources Management Project. It includes a $1 million grant from ADB's concessional Technical Assistance Special Fund, and $11.2 million in cofinancing from the Global Environment Facility (GEF). The governments of Indonesia, Malaysia, and the Philippines will provide $3 million in non-cash contributions.