The World Bank has approved financing for a major environmental
initiative titled “Restoration of the Caspian Sea Ecosystem:
Building Capacity for Pollution Management and Biodiversity
Conservation”, AzerNEWS reports, citing the
institution.
According to reports, the project represents a significant step
toward addressing environmental challenges in the Caspian Sea
region.
The initiative will be implemented with the participation of
Azerbaijan, Kazakhstan, and Turkmenistan, and is aimed at
strengthening regional cooperation in combating pollution and
protecting biodiversity. The financing package was approved in
April. The Global Environment Facility will allocate $11.74 million
in grant funding to the World Bank and the United Nations
Environment Programme, which will act as implementing agencies.
Additionally, a Project Preparation Grant (PPG) of $183,489 will
be provided to UNOPS to support preparatory work, including the
development of environmental and social safeguards, as well as
coordination among the participating countries.
The main objective of the initiative is to strengthen the
institutional capacity of Azerbaijan, Kazakhstan, and Turkmenistan.
By doing so, the project will support improvements in pollution
management mechanisms and expand biodiversity conservation efforts
throughout the Caspian Sea region. It will also complement ongoing
efforts by participating countries to meet their commitments under
the Tehran Convention and its related protocols.
The project is structured around three key components:
Pollution management – $3.9 million;
Development of specially protected natural areas – $3.9
million;
Project management – $443,120.
