| Financier | Commitments |
|---|---|
| Program on Fisheries | 2.40 |
Caribbean Ocean and Aquaculture Sustainability FaciliTy (COAST) Project
Abstract*
The development objective of the project is to strengthen financial resilience of Caribbean countries through insuring against selected climate-related events that impact the fisheries sector. This will be achieved by financing the COAST capitalization and sovereign insurance premium in participating countries (St Lucia and Grenada). COAST is an innovative climate risk insurance mechanism to promote sustainable fisheries, food security, livelihoods... Show More
Development Objective
The Project Development Objective is to strengthen financial resilience of Caribbean countries through insuring against selected climate-related events that impact the fisheries sector.
Key Details
Project Details
P171321
Closed
Cary Anne Cadman , Jose Villalobos
Grenada,Saint Lucia
December 10, 2019
(as of board presentation)
May 29, 2020
August 11, 2020
US$ 2.40 million
Caribbean Catastrophe Risk Insurance Facility
2020
US$ 2.40 million
N/A
Low
June 30, 2022
No
BANK APPROVED
April 19, 2024
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | N/A |
| IDA Commitment | N/A |
| IBRD + IDA Commitment | N/A |
| Lending Instrument | |
|---|---|
| Grant Amount | 2.40 |
| Total Project Cost** | 2.40 |
Summary Status of World Bank Financing (US$ Millions) as of July 31, 2025
No data available.
Detailed Financial Activity as of July 31, 2025
No data available.
Ratings
IMPLEMENTATION RATINGS
| Name | Review | Date |
|---|---|---|
| Progress towards achievement of PDO | Satisfactory | 2021-08-10 |
| Overall | Low | 2021-08-10 |
| Overall Implementation Progress (IP) | Satisfactory | 2021-08-10 |
COMPLETION RATINGS
| INDICATOR | IMPLEMENTATION COMPLETION & RESULTS REPORT: 02-02-2023 |
|---|---|
| Outcomes | Substantial |
| Risk to Development Outcome | |
| Bank Performance | Substantial |
| Borrower Performance | |
| Government Performance | |
| Implementing Agency |
INDEPENDENT EVALUATION RATINGS
No data available.
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Number of countries that have purchased COAST SP insurance from CCRIF SPC Value 0.00 2.00 2.00 Date July 1, 2019 June 30, 2022 June 30, 2022 Comment For triggered events, countries have received a payout within 14 days of the occurrence of said event Value 0.00 2.00 2.00 Date July 1, 2019 June 30, 2022 June 30, 2022 Comment
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Number of countries that have adopted the COAST SP Operational Manual Value 0.00 2.00 2.00 Date July 1, 2019 June 30, 2022 June 30, 2022 Comment Monthly updates of the beneficiary list in each participating country Value No Yes Yes Date July 1, 2019 June 30, 2022 June 30, 2022 Comment New fishworkers formally registered to become a beneficiary of COAST SP Value 0.00 20.00 32.00 Date July 1, 2019 June 30, 2022 July 16, 2021 Comment Percent of women fishworkers formally registered to become a beneficiary of COAST SP Value 0.00 10.00 12.00 Date July 1, 2019 June 30, 2022 June 30, 2022 Comment