Caribbean Ocean and Aquaculture Sustainability FaciliTy (COAST) Project

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The development objective of the project is to strengthen financial resilience of Caribbean countries through insuring against selected climate-related events that impact the fisheries sector. This will be achieved by financing the COAST capitalization and sovereign insurance premium in participating countries (St Lucia and Grenada). COAST is an innovative climate risk insurance mechanism to promote sustainable fisheries, food security, livelihoods of fisherfolk and disaster risk reduction in the Caribbean. COAST is designed to support governments’ efforts to rapidly put money into the hands of fisherfolk impacted by extreme weather, providing them with immediate economic relief.