The Ocean Risk and Resilience Action Alliance (ORRAA) is supporting the creation of projects to implement the next generation of innovative coastal and ocean finance and insurance products and/or tools that better analyse, predict and reduce ocean risk.
The call is financially supported by the Government of Canada and administered by the ORRAA Secretariat.
Project focus
Project proposals must fit into one of ORRAA's priority areas of Financial Innovation or Science and Research, and contribute to fulfilling ORRAA's mission in one of the following ways:
- Developing and implementing innovative financial and insurance products
- Developing research or tools that better analyse, predict, model and reduce the risk of ocean sustainability
The projects must also
- Promote the development of ocean and coastal nature-based solutions (NbS) or mitigate risk multipliers such as overfishing and pollution.
- Align with and include the priorities and interests of local communities.
- Providing greater economic, social and cultural resilience to climate-vulnerable coastal communities.
- Being biodiversity positive, leading to net zero or positive climate outcomes, and "do no harm" (not resulting in negative impacts on the communities or ecosystems in which they are designed to build resilience).
Type of Grants:
- Launch subsidy: Tailor-made for organisations to design innovative solutions in a shorter period of time that may be eligible for funding from future grant projects
- Project subsidy: Adapted for organisations to test and experiment with innovative ideas, or to extend and replicate proven ideas in new contexts.
Information on financing
- Launch Grant Funding: Up to 10,000 USD (3 months)
- Funding for the Project Grant: Up to US$400,000 (Up to 24 months)
Geographical Focus
- Projects must be located or implemented in coastal countries eligible for Official Development Assistance (ODA) and the UNFCCC, which do not conflict with applicable individual and consolidated sanctions established by the United States or Canada. Special attention will be given to projects located or implemented in Small Island Developing States (SIDS) and Least Developed Coastal Countries (LDCs).
Eligible Countries: Albania, Algeria, Angola, Argentina, Bangladesh, Belize, Benin, Bosnia and Herzegovina, Brazil, Cape Verde, Cambodia, Cameroon, Colombia, Comoros, Congo, Cook Islands, Costa Rica, Ivory Coast, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Fiji, Gabon, Gambia, Ghana, Grenada, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Honduras, India, Indonesia, Jamaica, Jordan, Kenya, Kiribati, Liberia, Madagascar, Malawi, Maldives, Marshall Islands, Mauritania, Mauritius, Mexico, Micronesia, Montenegro, Morocco, Mozambique, Namibia, Nigeria, Nauru, Niue, Pakistan, Panama, Papua New Guinea, Peru, Philippines, St Lucia, St Vincent and the Grenadines, Samoa, Sao Tome and Principe, Senegal, Sierra Leone, Solomon Islands, South Africa, Sri Lanka, Suriname, Tanzania, Thailand, Timor-Leste, Togo, Tonga, Tunisia, Tuvalu, Vietnam
Eligibility Criteria
- Project proposals must fulfil the criteria to be considered by the ORRAA Secretariat. These criteria ensure that the projects supported by ORRAA help to continue its mission to catalyse the investment of at least 500 million dollars in coastal and marine natural capital, through the development and deployment of financial products that increase the resilience of 250 million people living in coastal areas who are vulnerable to climate change, by 2030.
- Individuals, public institutions, development finance institutions, the private sector, and civil society (NGOs, think tanks, academics) are all welcome to submit proposals.
For more information, visit this site.
Deadline: 14th August
