Ocean Resilience and Coastal Adaptation Trust Fund [C143]

Regional Asia and the Pacific

Ocean Resilience and Coastal Adaptation Trust Fund (ORCA TF)

Ref. NDF C143

NDF grant: EUR 8.5 million

Project Period: 2023 - 2030

Partner Agency: Asian Development Bank (ADB)

Implementing Agency: Asian Development Bank (ADB)

Objective

The overall objective of ORCA TF is to address the financing gap by catalysing investments needed to strengthen resilience of coastal areas to climate change as well as to promote sustainable blue economies in Asia and the Pacific region. The main objectives are to:

1) improve knowledge for increased investment in climate adaptation in coastal areas and sustainable blue economy,

2) catalyse large-scale climate adaptation funding for coastal areas and sustainable blue economy, and

3) build capacity and skills for the implementation and scaling of investments in climate adaptation in coastal areas and sustainable blue economy.

Outcomes

ORCA TF’s project outcomes are:

Climate and disaster resilience and adaptability of cities, human settlements, and infrastructure strengthened. Projects supported by ORCA TF will have an immediate and direct positive outcome on coastal communities strengthening their resilience and adaptability to adverse effects of climate change.

Natural capital and water-energy-food security enhanced. ORCA TF will support projects which strengthen resilience of coastal areas through physical infrastructure and nature-based solutions, thereby restoring and preserving natural capital and, in turn, enhancing food security of coastal communities.

Reduced vulnerability to climate-related shocks/hazards. Introduction and or strengthening of nature-based solutions and the physical infrastructure (primary outcome of ORCA TF).

Decreased vulnerability to resource depletion. Both physical infrastructure as well as nature-based solutions will likely have a positive effect and will protect, strengthen and/or restore important resources for coastal communities in the context of the blue economy such as coral reefs, fisheries or land erosion (secondary outcome of ORCA TF).

Improved socio-economic conditions. Improvements in physical infrastructure will both offer better protection to the livelihoods in coastal communities such as assets or microbusinesses by reducing risk and vulnerabilities and will encourage investments into expansion of blue economy-linked revenue-generating activities (secondary outcome of ORCA TF).

Financing

NDF provides EUR 8.5 million in grant financing to this project. Other co-financing partners are the United Kingdom (EUR 3.5 million), Global Environment Facility (EUR 10 million). The total amount in the multi-donor trust fund will be EUR 22 million for the period of 2023-2030 and is expected to grow over time as more donors join the Trust Fund.

NDF Contact

Program Manager Siv Ahlberg (siv.ahlberg@ndf.int)