The Barbados Environmental Sustainability Fund (BESF) was incorporated in April 2022 as a non-profit organization (NGO) under the Companies Act of Barbados, created as a long-term financing mechanism to support the island’s sustainability efforts. Established pursuant to the Conservation Funding Agreement (CFA) between the Government of Barbados, The Nature Conservancy (TNC) and Barbados Blue Conservation Trust, the BESF will provide grants to NGOs, Private Sector, Government, and other qualifying entities to support projects aligned with Barbados’ conservation and environmental sustainability goals.
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Heralded as one of the most innovative financial deals to date, the Government of Barbados successfully redirected a portion of its sovereign debt service into marine conservation funding, in support of the nation’s commitment to conserve approximately 30% of its ocean and support the effective development and management of its blue economy.
