Unleashing the Blue Economy of the Caribbean (UBEC)

Abstract*

The development objective of the Unleashing the Blue Economy of the Caribbean Project for Grenada, Saint Lucia, Saint Vincent, and the Grenadines is to strengthen the enabling environment for the blue economy, economic recovery, and resilience of selected coastal assets in participating countries and provide immediate and effective response to an eligible emergency. The project comprises of four components. The first component, strengthening governance... Show More

Development Objective

To strengthen the enabling environment for the blue economy, economic recovery, and resilience of selected coastal assets in participating countries and provide immediate and effective response to an eligible emergency.

Key Details

Project Details

Project ID
P171833
Status
Active
Team Leader
Nicolas Desramaut , Winston Dawes, Gayatri Kanungo, Samantha Cook
Borrower 2
Saint Lucia,OECS Commission,Saint Vincent and the Grenadines,Grenada

Country
Caribbean
Disclosure Date
August 11, 2020
Approval Date
(as of board presentation)
May 2, 2022
Effective Date
October 11, 2022

Total Project Cost 1
US$ 60.00 million
Implementing Agency
Ministry of Finance,Ministry of Finance,Ministry of Finance,OECS Commission
Region
Latin America and Caribbean
Fiscal Year 3
2022

Commitment Amount
US$ 60.00 million
Environmental Category
N/A
Last Update Date
June 25, 2024
Closing Date
July 31, 2028

Last Stage Reached
BANK APPROVED

Associated Projects
P181493

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Environment and Natural Resource Management

FY17 - Climate change50%
- FY17 - Adaptation45%
- FY17 - Mitigation5%
FY17 - Renewable Natural Resources Asset Management100%
- FY17 - Coastal Zone Management74%
- FY17 - Fisheries Policies and institutions21%
- FY17 - Oceans36%

FY17 - Human Development and Gender

FY17 - Gender34%

FY17 - Private Sector Development

FY17 - Jobs89%
- FY17 - Job Creation89%

FY17 - Urban and Rural Development

FY17 - Disaster Risk Management44%
- FY17 - Flood and Drought Risk Management44%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
IDA Grant	8.00
PROBLUE MDTF	4.00
IDA Credit	48.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	N/A
IDA Commitment	56.00
IBRD + IDA Commitment	56.00

Lending Instrument
Grant Amount	4.00
Total Project Cost**	60.00

Summary Status of World Bank Financing (US$ Millions) as of February 28, 2025

No data available.

Detailed Financial Activity as of February 28, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Apr 30, 2024	IDA-75510	Loan Commitment	10,000,000.00
Jun 21, 2024	IDA-70880	Loan Disb	126,000.00
Apr 30, 2024	IDA-75530	Loan Commitment	10,000,000.00
Apr 30, 2024	IDA-75520	Loan Commitment	10,000,000.00
Jun 18, 2024	IDA-70880	Loan Disb	156,574.40
May 2, 2022	IDA-70880	Loan Commitment	18,000,000.00
May 2, 2022	IDA-70870	Loan Commitment	15,000,000.00
May 2, 2022	IDA-70890	Loan Commitment	15,000,000.00
May 2, 2022	IDA-E0200	Loan Commitment	8,000,000.00
Oct 28, 2022	IDA-E0200	Loan Disb	1,690,181.00
Jun 28, 2023	IDA-70890	Loan Disb	2,695,020.80
Oct 2, 2023	IDA-70880	Loan Disb	145,284.30
Oct 24, 2023	IDA-70870	Loan Disb	3,983,459.00
Oct 15, 2023	IDA-70890	Int Charges	10,333.16
Oct 15, 2023	IDA-70890	Int Charges	10,333.16
May 22, 2024	IDA-70880	Int Charges	223.85
May 22, 2024	IDA-70880	Int Charges	223.85
May 22, 2024	IDA-70880	Int Charges	11,074.64
May 22, 2024	IDA-70880	Int Charges	11,074.64
Aug 30, 2024	IDA-70870	Loan Disb	78,289.72
Aug 14, 2024	IDA-70890	Loan Disb	475,138.97
Apr 15, 2024	IDA-70890	Int Charges	17,382.90
Apr 15, 2024	IDA-70890	Int Charges	17,382.90
Feb 16, 2024	IDA-70880	Loan Disb	3,178,747.20
Mar 15, 2024	IDA-70870	Int Charges	20,126.43
Mar 15, 2024	IDA-70870	Int Charges	20,126.43

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Progress towards achievement of PDO	Moderately Satisfactory	2025-01-02
Financial Management	Moderately Satisfactory	2025-01-02
Monitoring and Evaluation	Moderately Satisfactory	2025-01-02
Overall Implementation Progress (IP)	Moderately Satisfactory	2025-01-02
Procurement	Moderately Satisfactory	2025-01-02
Project Management	Moderately Satisfactory	2025-01-02

COMPLETION RATINGS

No data available.

INDEPENDENT EVALUATION RATINGS

No data available.

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Beneficiaries with access to more resilient coastal infrastructure supported under the project Value 0.00 0.00 28000.00
Date May 2, 2022 May 1, 2024 July 31, 2028
Comment
Regional/national policies incorporating Blue Economy principles drafted and submitted for approval Value 0.00 0.00 8.00
Date May 2, 2022 May 1, 2024 July 31, 2028
Comment
Share of targeted beneficiaries with score ‘Satisfactory’ or higher on project interventions. Value 0.00 0.00 65.00
Date May 2, 2022 May 1, 2024 July 31, 2028
Comment
Blue MSMEs with improved access to finance supported by the project, of which % women owned/managed Value 0.00 0.00 75.00
Date May 2, 2022 May 1, 2024 July 31, 2028
Comment
Households provided with access to improved solid waste management services. Value 0.00 0.00 6000.00
Date May 2, 2022 May 1, 2024 July 31, 2028
Comment
Increase in revenue by project supported MSMEs over comparative group. Value 0.00 0.00 15.00
Date May 2, 2022 May 1, 2024 July 31, 2028
Comment
Percent of women owned/managed Blue MSMEs with improved access to finance supported by the project. Value 0.00 0.00 0.00
Date
Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Farmers and fisherfolk receiving production inputs and services under the food security CERC Value 0.00 0.00 3300.00
Date February 1, 2024 May 1, 2024 December 31, 2024
Comment
Infrastructure rehabilitated, upgraded or established and managed (disaggregated by type) Value 0.00 0.00 18.00
Date May 2, 2022 May 1, 2024 July 31, 2028
Comment
Policies or legal instruments that integrate blue economy visions and climate change adaptation measures, developed or updated Value 0.00 0.00 8.00
Date May 2, 2022 May 1, 2024 July 31, 2028
Comment
Regional Blue Economy data sharing platform operational Value No No Yes
Date May 2, 2022 May 1, 2024 July 31, 2028
Comment
Marine Protected Areas under active management according an updated management plans supported by the project. Value 0.00 0.00 5.00
Date May 2, 2022 May 1, 2024 July 31, 2028
Comment
Blue Economy education/training clusters operational Value 0.00 0.00 3.00
Date May 2, 2022 May 1, 2024 July 31, 2028
Comment
Innovative technologies applied for better management of the marine space. Value 0.00 0.00 3.00
Date May 2, 2022 May 1, 2024 July 31, 2028
Comment
Men and women participating in planning and decision-making on the Blue Economy, of which % are women. Value 0.00 0.00 1800.00
Date May 2, 2022 May 1, 2024 July 31, 2028
Comment
New fishers formally registered to become a beneficiary of COAST climate risk insurance scheme, of which % are women. Value 0.00 0.00 100.00
Date May 2, 2022 May 1, 2024 July 31, 2028
Comment
Key infrastructure rehabilitated or constructed with disaster-resilient standards under the food security CERC Value 0.00 0.00 72.00
Date February 1, 2024 May 1, 2024 December 31, 2024
Comment

Number of animals of improved breeds procured to replenish the country’s available breeding stock under the food security CERC	Value	0.00	0.00	790.00
	Date	February 2, 2024	May 1, 2024	December 31, 2024
	Comment

Percent of women farmers and fisherfolk from Grenada, Saint Lucia and Saint Vincent and the Grenadines who have benefited from project support through inputs and services. Value 0.00 0.00 0.00
Date
Comment
Grenada: Farmers and fisherfolk receiving production inputs and services under the food security CERC Value 0.00 0.00 0.00
Date
Comment
Saint Lucia: Farmers and fisherfolk receiving production inputs and services under the food security CERC Value 0.00 0.00 0.00
Date
Comment
Percent of women participating in planning and decision-making on the Blue Economy for all three countries. Value 0.00 0.00 0.00
Date
Comment
New women fishers formally registered to become a beneficiary of COAST climate risk insurance scheme Value 0.00 0.00 0.00
Date
Comment
Saint Vincent and the Grenadines: Farmers and fisherfolk receiving production inputs and services under the food security CERC Value 0.00 0.00 0.00
Date
Comment
Grenada: Key infrastructure rehabilitated or constructed with disaster-resilient standards under the food security CERC Value 0.00 0.00 0.00
Date
Comment
Saint Lucia: Key infrastructure rehabilitated or constructed with disaster-resilient standards under the food security CERC Value 0.00 0.00 0.00
Date
Comment
Saint Vincent and the Grenadines: Key infrastructure rehabilitated or constructed with disaster-resilient standards under the food security CERC Value 0.00 0.00 0.00
Date
Comment
Grenada: Number of animals of improved breeds procured to replenish the country’s available breeding stock under the food security CERC Value 0.00 0.00 0.00
Date
Comment
Saint Lucia: Number of animals of improved breeds procured to replenish the country’s available breeding stock under the food security CERC Value 0.00 0.00 0.00
Date
Comment
Saint Vincent and the Grenadines: Number of animals of improved breeds procured to replenish the country’s available breeding stockunder the food security CERC Value 0.00 0.00 0.00
Date
Comment

Share of targeted beneficiaries with score ‘Satisfactory’ or higher on project interventions.	Value	0.00	0.00	65.00
	Date	May 2, 2022	May 1, 2024	July 31, 2028
	Comment

Households provided with access to improved solid waste management services.	Value	0.00	0.00	6000.00
	Date	May 2, 2022	May 1, 2024	July 31, 2028
	Comment

Percent of women owned/managed Blue MSMEs with improved access to finance supported by the project.	Value	0.00	0.00	0.00
	Date
	Comment

Policies or legal instruments that integrate blue economy visions and climate change adaptation measures, developed or updated	Value	0.00	0.00	8.00
	Date	May 2, 2022	May 1, 2024	July 31, 2028
	Comment

Unleashing the Blue Economy of the Caribbean (UBEC)

Abstract*

Development Objective

Key Details

Project Details

Sectors

Themes

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Project Map

Finances

Financing Plan (US$ Millions)

Total Project Financing (US$ Millions)

Summary Status of World Bank Financing (US$ Millions) as of February 28, 2025

Detailed Financial Activity as of February 28, 2025

Ratings

IMPLEMENTATION RATINGS

COMPLETION RATINGS

INDEPENDENT EVALUATION RATINGS

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INTERMEDIATE RESULTS INDICATORS