By Marcela Ayres
(Reuters) -The Development Bank of Latin America and the Caribbean said on Saturday it will invest $2.5 billion in the region’s so-called blue economy by 2030 to ensure the sustainability of marine and coastal ecosystems.
The new goal, announced on the sidelines of the Blue Economy and Finance Forum in Monaco, doubles the bank’s previous target of investing $1.25 billion between 2022 and 2026. The bank has already committed $1.32 billion.
Funded projects so far include marine sanitation initiatives in Ecuador, Brazil, and El Salvador, as well as energy transition efforts in Ecuador’s shrimp farming sector, among others, the bank said in a statement.
(Reporting by Marcela Ayres in Brasilia; Editing by Lisa Shumaker)
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