The project aims to mobilize financial resources and build capacity for the effective management of Marine Protected Areas (MPAs) and related conservation milestones.
The BPMC, also referred to as the Bahamas Debt Conversion Project for Marine Conservation (BDCPMC), is an innovative initiative that refinanced USD 300 million in savings from The Bahamas’ external debt to generate USD 124 million in dedicated funding for ocean conservation and the improved management of the country’s 70 MPAs. The Bahamas has agreed to use these savings to invest in this 15-year project, which supports MPAs, biodiversity, conservation, sustainable livelihoods, and the long-term resilience of the country’s marine and coastal ecosystems.
The BPMC aims to improve the management and protection of existing Marine Protected Areas (MPAs) within The Bahamas. This includes, but is not limited to, drafting management plans and conducting Management Effectiveness Assessments that detail the actions to be carried out during implementation of the MPA management plans.
The Project also aims to complete and implement a legally enforceable Marine Spatial Plan (MSP) that includes marine conservation outcomes for biodiversity protection and details the permissible activities that may be lawfully carried out in any part of the ocean.
At its core, the BPMC focuses on the management of Marine Protected Areas (MPAs) in The Bahamas through the development of plans, effectiveness assessments, and other research and tools that align with global best practices. The management of the protected areas will be consistent with internationally established frameworks and principles, standards, and guidance, ensuring:
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