Sargassum Innovation Facility

The general objective of the facility is to leverage the potential of sargassum as a resource for various industries, contributing to mitigating the environmental and economic impact of sargassum arrivals in the most sensitive geographical regions, and strengthening the environmental and economic resilience of coastal communities affected by this phenomenon.

Project Detail

Country

Regional

Project Number

RG-O1726

Approval Date

October 4, 2024

Project Status

Implementation

Project Type

Container

Sector

PRIVATE FIRMS AND SME DEVELOPMENT

Subsector

SMALL AND MEDIUM ENTERPRISE

Lending Instrument

Lending Instrument Code

Modality

Facility

Facility Type

FFG (Facility Financing for Grants)

Environmental and Social Impact Category (ESIC)

Total Cost

USD 3,000,000.00

Country Counterpart Financing

USD 1,500,000.00

Original Amount Approved

USD 1,500,000.00