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Partnerships for Coral Reef Finance and Insurance in Asia and the Pacific Part I: Project Information GEF ID 10431 Project Type MSP Type of Trust Fund MTF CBIT/NGI CBIT No NGI No Project Title Partnerships for Coral Reef Finance and Insurance in Asia and the Pacific Countries Regional, Fiji, Indonesia, Philippines, Solomon Islands Agency(ies) ADB Other Executing Partner(s) Ministry of Maritime Affairs and Fisheries / Ministry of Environment and Forests (Indonesia); Ministry of Environment, Climate Change and Disaster Management (Solomon Islands); Palawan Council for Sustainable Development (Philippines) Executing Partner Type Government GEF Focal Area Climate Change Taxonomy Climate Change Adaptation, Climate Change, Focal Areas, Least Developed Countries, Climate finance, Disaster risk management, Climate resilience, Small Island Developing States, Community-based adaptation, Private sector, Climate information, Biodiversity, Protected Areas and Landscapes, Coastal and Marine Protected Areas, Financial and Accounting, Conservation Finance, Payment for Ecosystem Services, Natural Capital Assessment and Accounting, Conservation Trust Funds, Biomes, Coral Reefs, Influencing models, Deploy innovative financial instruments, Stakeholders, Type of Engagement, Partnership, Participation, Consultation, Information Dissemination, Local Communities, Civil Society, Non-Governmental Organization, Community Based Organization, Academia, Communications, Awareness Raising, Behavior change, Private Sector, SMEs, Large corporations, Gender Equality, Gender results areas, Capacity Development, Participation and leadership, Access and control over natural resources, Gender Mainstreaming, Beneficiaries Rio Markers Climate Change Mitigation Climate Change Mitigation 0 Climate Change Adaptation Climate Change Adaptation 2 Submission Date 7/12/2021 Expected Implementation Start 1/31/2022 Expected Completion Date 12/31/2026 Duration 48In Months Agency Fee($) 121,461.00 A. FOCAL/NON-FOCAL AREA ELEMENTS Objectives/Programs Focal Area Trust GEF Co-Fin Outcomes Fund Amount($) Amount($) CCA-1 LDCF 441,400.00 351,712.00 CCA-1 SCCF-A 585,997.00 3,229,548.00 CCA-3 SCCF-A 251,142.00 1,670,452.00 Total Project Cost($) 1,278,539.00 5,251,712.00 B. Project description summary Project Objective To enable large-scale finance to increase the climate resilience of coastal businesses, communities and livelihoods in selected countries of Asia and the Pacific, through an innovative coral reef financing and insurance model Project Financin Expected Expected Trust GEF Project Confirmed Component g Type Outcomes Outputs Fund Financing($) Co- Financing($) Project Financin Expected Expected Trust GEF Project Confirmed Component g Type Outcomes Outputs Fund Financing($) Co- Financing($) Coral reef Technical 1. 1.1 Business SCCF 464,360.00 100,000.00 risk reduction Assistance Sustainable case for coral -A and financial financing reef financing model for mechanism and insurance Indonesia established prepared for and reef one high- insurance opportunity product site in structured at Indonesia one site in Indonesia, providing resources to 1.2 Guide on repair/restore post-disaster the reef that risk provides management protective and response services to capacity the site prepared for one site (focus on reef repair) 1.3 Reef financial mechanism and institutional arrangements established 1.4 Insurance and other risk management financial instruments designed Project Financin Expected Expected Trust GEF Project Confirmed Component g Type Outcomes Outputs Fund Financing($) Co- Financing($) Extension of Technical 2.1 Enabling 2.1.1 SCCF 200,416.00 4,250,000.00 model to Assistance conditions Management -A Philippines for coral reef plan for key financing marine and and coastal insurance in tourism sites Philippines developed supported and implemented in four priority clusters in Coron and El Nido, including: a) ecosystem rehabilitation in priority clusters (e.g. mangrove and seagrass), b) local communities trained in alternative livelihoods to reduce pressures on ecosystems, and c) monitoring program established for water quality and climate change impacts (ADB loan) 2.1.2 Loss and damage assessments conducted for project area (GEF funding) 2.1.3 Ecosystem values determined for 2 tourism zones (GEF funding) 2.1.4 Guide on post- disaster risk management and response capacity to climate- induced reef ecosystem damage prepared (GEF funding) 2.1.5 Sustainable financing mechanisms explored and designed, including legal / regulatory assessment (ADB + GEF funding) Project Financin Expected Expected Trust GEF Project Confirmed Component g Type Outcomes Outputs Fund Financing($) Co- Financing($) Extension of Technical 2.2 Enabling 2.2.1 LDC 351,678.00 101,712.00 model to Assistance conditions Ecosystems F Solomon for coral reef valuation Islands financing study for and ACMP insurance in conducted Solomon (with Islands outreach to supported other coral reef areas in Isabel province) 2.2.2 Financial mechanisms for nature- based solutions to climate change analysed through Arnavon Community Marine Park (ACMP) case study 2.2.3 Onshore Coastal Resilience Management Fund for the Arnavon Community Managed Park (ACMP) developed 2.2.4 Nature- based coral reef management and coastal resilience sub-projects implemented Project Financin Expected Expected Trust GEF Project Confirmed Component g Type Outcomes Outputs Fund Financing($) Co- Financing($) Knowledge, Technical 3. Improved 3.1 Playbook SCCF 78,202.00 300,000.00 learning and Assistance awareness on financing -A monitoring by national and insuring & local natural stakeholders capital in of the Asia and the benefits Pacific provided by produced and coral reef disseminated ecosystems and their 3.2 Improved protective awareness services to and coastal understandin businesses g of coral reef and finance and livelihoods insurance 3.3 Project monitoring and evaluation conducted Knowledge, Technical 3. Improved 3.1 Playbook LDC 67,652.00 learning and Assistance awareness on financing F monitoring by national and insuring & local natural stakeholders capital in of the Asia and the benefits Pacific provided by produced and coral reef disseminated ecosystems and their 3.2 Improved protective awareness services to and coastal understandin businesses g of coral reef and finance and livelihoods insurance 3.3 Project monitoring and evaluation conducted Project Financin Expected Expected Trust GEF Project Confirmed Component g Type Outcomes Outputs Fund Financing($) Co- Financing($) Sub Total ($) 1,162,308.00 4,751,712.00 Project Management Cost (PMC) LDCF 22,070.00 250,000.00 SCCF-A 94,161.00 250,000.00 Sub Total($) 116,231.00 500,000.00 Total Project Cost($) 1,278,539.00 5,251,712.00 C. Sources of Co-financing for the Project by name and by type Sources of Co- Name of Co- Type of Co- Investment Amount($) financing financier financing Mobilized GEF Agency Asian Development Loans Investment 5,000,000.00 Bank mobilized GEF Agency Asian Development Other Investment 101,712.00 Bank mobilized GEF Agency Asian Development Other Investment 50,000.00 Bank mobilized Civil Society The Nature Grant Investment 100,000.00 Organization Conservancy (TNC) mobilized Total Co-Financing($) 5,251,712.00 Describe how any "Investment Mobilized" was identified Investments are identified through regular consultations between ADB and its Developing Member Countries (DMCs). These culminate in periodic Country Partnership Strategies and are supported by Country Operational Business Plans (COBPs), which are essentially pipelines of planned investment projects, both lending and non-lending. D. Trust Fund Resources Requested by Agency(ies), Country(ies), Focal Area and the Programming of Funds Agenc Trust Country Focal Programmin Amount($) Fee($) y Fund Area g of Funds ADB SCCF Regional Climat NA 837,139 79,528 -A e Change ADB LDC Regional Climat NA 441,400 41,933 F e Change Total Grant Resources($) 1,278,539.00 121,461.00 E. Non Grant Instrument NON-GRANT INSTRUMENT at CEO Endorsement Includes Non grant instruments? No Includes reflow to GEF? No F. Project Preparation Grant (PPG) PPG Required false PPG Amount ($) PPG Agency Fee ($) Agenc Trust Country Focal Programming Amount($) Fee($ y Fund Area of Funds ) Total Project Costs($) 0.00 0.00 Meta Information - LDCF LDCF true SCCF-B (Window B) on technology transfer false SCCF-A (Window-A) on climate Change adaptation false Is this project LDCF SCCF challenge program? true This Project involves at least one small island developing State(SIDS). true This Project involves at least one fragile and conflict affected state. false This Project will provide direct adaptation benefits to the private sector. true This Project is explicitly related to the formulation and/or implementation of national adaptation plans (NAPs). false This Project has an urban focus. false This Project covers the following sector(s)[the total should be 100%]:* Agriculture 10.00% Natural resources management 0.00% Climate information Services 0.00% Costal zone management 40.00% Water resources Management 0.00% Disaster risk Management 40.00% Other infrastructure 10.00% Health 0.00% Other (Please specify:) 0.00% Total 100% This Project targets the following Climate change Exacerbated/introduced challenges:* Sea level rise true Change in mean temperature false Increased Climatic Variability true Natural hazards true Land degradation false Costal and/or Coral reef degradation true GroundWater quality/quantity false To calculate the core indicators, please refer to Results
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