Strengthen the blue economy and resistance to climate change in Venezuela

  • Venezuela
Duration of assignment

8 months

Year: 2024

  • Inter-American Development Bank
Description of project

This project focuses on strengthening Venezuela's blue economy and resistance to climate change. Recognizes Venezuela's rich marine biodiversity and commercial potential, highlighting underutilized ocean and coastal resources. The project aims to develop a roadmap to integrate the Blue Economy into the economic diversification of Venezuela, job creation and the sustainable use of natural resources. By developing a holistic Blue Economy roadmap and conducting two case studies, the initiative aims to reveal opportunities for sustainable economic growth and innovation, with an emphasis on the sustainable utilization of ocean resources.

Services provided

The project takes a comprehensive approach to promote Venezuela's Blue Economy by developing an integrated roadmap and executing two illustrative case studies. The roadmap outlines a strategic action plan, policy framework and investment plan to guide evidence-based decision-making, in both the public and private sectors, for the sustainable management of ocean resources. The roadmap includes a map of the sector, identification of stakeholders, evaluation of governance mechanisms and comparison with global best practices. The case studies, focused on Lake Maracaibo and Margarita Island, aim to demonstrate the potential of the Blue Economy to foster local economies, environmental sustainability and climate resilience. The consultancy covers cross-sector analysis, stakeholder engagement, governance assessment and drafting of low-cost, sustainable monitoring strategies. Together, these efforts aim to highlight innovative solutions within the framework of the blue economy, guiding Venezuela towards sustainable development and climate adaptability.


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