Improving the management effectiveness of marine protected areas (MPAs) in the Mediterranean
The MedFund is an environmental trust fund based in Monaco and dedicated specifically to the financing of marine protected areas in the Mediterranean. Established by Monaco, France and Tunisia in 2015, at the initiative of the Prince Albert II of Monaco Foundation and the MedPAN network, the MedFund realizes the commitment of several Mediterranean nations and international environmental organizations who are convinced that immediate action is required to safeguard the future of the Mediterranean and those who live there.
At a time when some states are committing to protect 30% of marine and coastal areas by 2030, marine protected areas make up just 8% of the Mediterranean Basin and, still, far too few are managed effectively. Against this background, the MedFund grants long-term financial aids to support the costs of managing marine protected areas. It is an innovative tool designed to finance and mobilize all of the actions required to manage marine protected areas over the long term. The MedFund supports the implementation of several international agreements: the Barcelona Convention, the Convention on Biological Diversity, the United Nations Framework Convention on Climate Change and the 2030 Sustainable Development Goals.
The environmental fund is based partly on an innovative funding mechanism which seeks to capitalize a substantial amount of funding, the regular proceeds of which will be sustainably reinvested in strengthening marine protected areas. The MedFund is a transparent and secure mechanism which operates a responsible investment policy that helps to meet the challenges of a new, more sustainable Mediterranean economy.