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Signature Convention CPH1042
On 15 September this year, the FFEM signed a new financing agreement with the Sulubaaï Environmental Foundation for the more sustainable development of Shark Fin Bay.

Secretary-General of the FFEM Stéphanie Bouziges-Eschmann, and the president of the Sulubaai foundation Frédéric Tardieu, today signed a new financing agreement for € 1,757,800 in the presence of Secretary of State for Biodiversity Bérangère Abba, the Philippines Ambassador to France Maria Theresa Pareno Lazaro, and representatives of the French Ministry for Ecological and Inclusive Transition, UNESCO, the Coastal Protection Agency and the AFD. The project is also funded by the Prince Albert II of Monaco Foundation, Blancpain Ocean Commitment, Veolia and the Water Agency. The ceremony was held at the Philippines Embassy in Paris. 

Beneficiary of the funds is the Sulubaaï Environmental Foundation. The project aims to restore biodiversity and fish stocks in Shark Fin Bay, through the creation of three protected marine areas around the coral reefs, in order to bolster the resilience of these regions. Management of these is by the local communities. 

The project is particularly innovative as a result of its integrated approach, environmentally, socially and technically. Of note is the implementation of a special restoration technique: Sulu-Reef prostheses. These provide support for recolonisation, enabling the corals to propagate and the creation of new habitats. 

The project is designed to run for three-and-a-half years, from June 2020 to December 2023.

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