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Agency Commits US$63M To Preserve Asia's Coral Triangle
An international fund that aids sustainable environment projects has committed US$63 million to help preserve Southeast Asia's Coral Triangle from overfishing and climate change, the Asian Development Bank said Tuesday.
The sprawling triangle, which straddles the waters of Indonesia, Malaysia, Papua New Guinea, the Philippines, the Solomon Islands and East Timor, is believed to have the highest marine biodiversity in the world.
But excessive fishing, including the use of cyanide and dynamite, has destroyed large swathes of coral reef and depleted marine activity in the area. A rise in sea levels, ocean temperatures and water acidity because of climate change may also hasten the damage, the ADB said in statement.
The Manila-based bank said the multinational independent financial agency Global Environment Facility will fund activities to help preserve ecosystems in the coral triangle, and develop measures to adapt to climate change. The ADB is a fund partner.
The sprawling triangle, which straddles the waters of Indonesia, Malaysia, Papua New Guinea, the Philippines, the Solomon Islands and East Timor, is believed to have the highest marine biodiversity in the world.
But excessive fishing, including the use of cyanide and dynamite, has destroyed large swathes of coral reef and depleted marine activity in the area. A rise in sea levels, ocean temperatures and water acidity because of climate change may also hasten the damage, the ADB said in statement.
The Manila-based bank said the multinational independent financial agency Global Environment Facility will fund activities to help preserve ecosystems in the coral triangle, and develop measures to adapt to climate change. The ADB is a fund partner.
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