Financial Resources Working Group Meeting 2023

Financial Resources Working Group Meeting

The CTI-CFF Financial Resources Working Group (FRWG) recently convened for a Virtual Meeting via In-situ VMP on 29 August 2023. Chaired by Ms. Armida P. Andres, OIC Assistant Director of BMB, and Mr. John Erick P. Avelino, Chief of Integrated Coastal and Marine Partnership Section, CMD-BMB, the meeting aimed to achieve several crucial objectives. These included providing updates on FRWG Members, SOM-17 Decision, and the Regional Conservation Trust Fund (RCTF), presenting the proposed 2024 FRWG Budget for SOM18 decision, offering insights into Partners' activities with CTI-CFF, and delving into discussions about GEF8.

The meeting commenced with appreciative acknowledgments for the Executive Director of the CTI-CFF Regional Secretariat, Dr. Mohd Kushairi Mohd Rajuddin, and Ms. Armida P. Andres for their welcome and opening remarks, respectively. Representatives from Indonesia, Malaysia, Papua New Guinea, the Philippines, Solomon Islands, and Timor Leste were also acknowledged for their participation.

Significant updates were made regarding SOM-17 Decision, particularly in acknowledging the progress made by the Regional Secretariat's tasks. The group took note of the advancements in the Regional Conservation Trust Fund and expressed gratitude for the support from key organizations like the Wildlife Conservation Society, Conservation Finance Alliance, and USAID RDMA.

The meeting concluded with an endorsement of the revised 2024 FRWG Budget, set to be proposed to SOM18. Additionally, plans were made for the physical meeting in Manila, Philippines, in March 2024, with a potential supplementary session via In-situ VMP in September 2024, contingent on external funding.

The Partners' Update session underscored the invaluable support from entities like the Asian Development Bank, USAID Regional Development Mission for Asia, and USAID RDMA for their contributions towards strengthening the implementation of RPOA 2.0. The session also highlighted initiatives aimed at combating IUU fishing, conserving biodiversity, and promoting fair labour and sustainable fisheries practices.

The meeting ended on a note of appreciation for the effective leadership of Ms. Armida P. Andres and Mr. John Erick Avelino, as well as the active participation of FRWG members and CTI Partners. The CTI-CFF FRWG meeting marked a significant step forward in securing financial resources for the vital conservation efforts in the Coral Triangle region. (*)