JAKARTA - Minister of Maritime Affairs and Fisheries Sakti Wahyu Trenggono said that blended finance can be a way to support marine conservation efforts while ensuring the welfare of the community.
He added that mixed funding is one of the actions of five blue economy policies, including the expansion of marine conservation areas.
"One side of area protection can be maintained properly, then he can also provide maximum economic benefits, especially the community around conservation, he can understand that this area should not be disrupted, but on the other hand he can live as a result of existing productivity," Trenggono explained as quoted by ANTARA, Sunday, May 19.
He has not been able to provide a definite figure regarding the funding gap needed to carry out a blended finance, a method of using development financing strategies to mobilize additional financing in order to achieve sustainable development.
However, he explained, the government in collaboration with the Green Climate Fund, Conservation International and Indonesian Conservation have also launched Blue Halo S.
The program itself is an integrated approach to managing marine resource conservation and fisheries, ensuring a balance between ecology and the economy.
"But we will continue to encourage it, one of which is the Blue Halo S program which was initiated earlier and will run immediately, of course, yes, and we will be escorted in several areas. And after we complete how the conservation is properly maintained, there will be a lot of people coming in," he explained.
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Meanwhile, Senior Vice President and Executive Chair of Indonesian Conservation Meizani Irmadhiany explained, Blue Halo S wants to realize a funding system for the management of conservation areas and the blue economy simultaneously.
"So how do we put value for conservation areas which are actually the carrying capacity or support from a blue economy, especially fisheries, that is what has never existed in this world," he explained.
He said that Blue Halo S, which was launched during the Tri Hita Karana Forum which is part of the side event of the G20 Summit and Ocean 20 conference in 2022, targeted the 572 fisheries management area (WPP) spread across six provinces starting from Aceh to near the Banten region.
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