Dr Kwa Calls for Access to Ocean Fund

The Prime Minister’s Special Envoy, Dr Eric Kwa has called on the United Nations to ease accessibility to the proposed Ocean Fund.

He made this known during a panel session last Wednesday, June 29, themed Bridge the Blue Finance Gap, in which he participated.

The panel discussed financing sustainable ocean-based economies in emerging markets, especially in Least Developed Countries (LDCs) and Small Island Developing States (SIDS) solutions across the investment continuum.

He said it is important for the United Nations to make funding easily accessible for our people, particularly through simplified requirements and processes.

“Funding should not be based on the principle of mistrust by the financier meaning local communities are subjected to a rigorous compliance process, but on saving lives and communities and their environment. These people are already facing the prospect of displacement and the extinction of their communities and do not need the “red tape type” processes to secure much needed funding to secure their livelihood and communities.”

“That principle is a disadvantage and an obstacle to our local communities given that if a funder comes to a community, they would be a complete outsider to the locals having no relationship whatsoever with the people,” Special Envoy Kwa said.

He said they should not require people to fill all kinds of documentation, which is time consuming.

“Our ocean areas are in a dire situation of global warming and rising sea levels. And, with the current UN system, it takes about five years to access these funds after applying.

“While we are waiting for those funds and processes to be cleared, the environment is deteriorating.

He said “We should be talking about ways to ease up funding to be easily accessible for our people.

“We should look at sustainable ways of helping our locals progress.

“So, what we discussed is basically easily accessible finance that can create a sustainable livelihood, for our people,” Dr Kwa concluded.

Author: 
Press Release