Securing financing for protected marine areas in the Mediterranean (Medfund)

The Mediterranean is home to almost 10% of Earth’s marine biodiversity, much of it highly endemic, and comprises 1,231 protected marine areas covering 7.14% of its surface area. Recognised as effective tools for the protection of marine ecosystems while encouraging sustainable economic development, protected marine areas (PMA) are nonetheless under-funded and encounter frequent management and operational difficulties.
Established jointly with France, Monaco and Tunisia, the Association for the Sustainable Financing of Mediterranean MPAs (M2PA), today called the MEDFund, is with the support of the FFEM preparing to launch the first capitalisation of a trust fund dedicated to the long-term financing of the management of protected marine areas in the Mediterranean.

The project has six components:

• Establishing and structuring a trust fund for the Mediterranean protected marine areas, through analysis of their financial needs and by working together at national and regional levels.
• Mobilising the financial resources necessary for fund capitalisation and contributing to its seed funding.
• Financing as a pilot stage the first support provided to the Mediterranean protected marine areas.
• Initiating partnerships with similar regional environmental funds, and establishing a communications strategy.
• Consolidating the structure of the M2PA/MedFund Secretariat.
• Evaluating the project, both during the pilot phase of support to the areas, and at its conclusion.
   

• Contributing to the economic development of marine and coastal regions, with particular emphasis on eco-friendly tourism and sustainable fishing.
• Protecting the very sensitive marine environments.
• Sustainably harnessing marine and coastal resources.
• Setting-up a network of protected marine areas that are well coordinated and effectively managed.

This project implements innovative governance solutions, particularly in promoting joint management between the public authorities and civil society actors. It aims to develop innovative financing for biodiversity conservation. Long-term, it seeks to secure proper management of protected marine areas and allow funding partners to coordinate at pan-Mediterranean scale. This approach permits the initiation of fuller policy dialogue between governments and conservation actors.