Good Oceans, Good Business

Countries involved:  Papua New Guinea

Coral Collective Partner:  GFCR

This project establishes a Blue Economy Enterprise Incubation Facility to accelerate sustainable livelihood opportunities linked to the marine environment in Papua New Guinea. Through its technical assistance and finance facilities, this Blue Economy facility will provide cradle to exit support for blue enterprise development, crowd-in private capital through partnerships with domestic financial institutions and provide incentives for the long-term conservation of key marine ecosystems, directly advancing SDG 14, SDG 9, SDG 17, SDG 12, SDG 8 and SDG 5.

In addition, the project supports the development of a national Blue Investment Strategy  with a focus on incubating marine focused women-led businesses. Simultaneously, multiple-use MPAs are being established at sites with globally important coral reef systems. The facility will demonstrate proof of concept for new blue business models and catalyze a new blue economy in Papua New Guinea, which will also crowd-in domestic financial institutions to provide blue-focused financial products, expanding the market for microfinance for women and youth in the country.