Blue Economy Gets KSh1 Billion from World Bank

Kenya’s blue economy has received a KSh1 billion boost from the World Bank. According to the East African Community Principal Secretary, Kevit Desai, the funds will go a long way in harnessing and developing the said sector.

Earlier on in January this year, the government received KSh10 billion from the World Bank to implement its projects in the Coast region, specifically the fisheries sector.

Some of the objectives of the Blue Economy are:

Sustainable use of ocean resources for economic growth
Health of the ocean ecosystem health
Reduce environmental risks and ecological scarcities
Address water, energy and food security
Protect the health, livelihoods and welfare of the people in the coastal zone
Fostering an ecosystem-based climate change mitigation and adaptation measures…”

Aljazeera reports that the ‘Blue Economy’ is valued at six trillion dollars.