Blue economy: The key to climate resilience and sustainable growth

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Enriched Nordic · Found: 2026-03-11 08:07

Blue economy: The key to climate resilience and sustainable growth. 29.11.2023. We have chosen blue economy as one of our focus areas in COP28.

Source: https://www.ndf.int/newsroom/blue-economy-the-key-to-climate-resilience-and-sustainable-growth.html

Funding Details

Funder: Nordic Development Fund (NDF)
Funding Goal: Climate-focused blue economy financing for sustainable ocean use, coastal resilience, and marine ecosystem protection in lower-income countries
Funding Amount: EUR 54.52 million committed to blue economy projects; EUR 1.34 million through EEP Africa. Individual project approval threshold at EUR 500,000 (above requires Board approval).
How to Apply: NDF does not accept direct applications. Projects are developed collaboratively with strategic partners (international financing institutions and multilateral organizations). Interested parties should contact NDF directly through their contact form or connect through existing partner networks. Projects under EUR 500,000 are approved by the Managing Director; larger projects require two Board of Directors considerations.
Target Region: Lower-income countries globally, with notable activity in Africa and developing regions
Contact: Nordic Development Fund, Fabianinkatu 34, 00100 Helsinki, Finland. Phone: +358 10 618 002. Contact form: https://www.ndf.int/contact-us/contact-form.html
Last Checked: 2026-03-12 05:31

Application Checklist

Eligibility

NDF does not accept direct applications — projects must be developed through strategic partnerships with international financing institutions
Projects must be located in lower-income countries and fragile situations (not Nordic/EU countries)

Project Scope

All projects must align with NDF's climate change mitigation and adaptation mandate

Required Documents

Projects must comply with NDF's Environmental and Social Policy & Guidelines
Gender Equality Policy requirements must be satisfied

Constraints

Activities on NDF's exclusion list are ineligible
Projects over EUR 500,000 require two Board of Directors considerations

Summary

The Nordic Development Fund (NDF) is a multilateral development finance institution established by the five Nordic countries (Denmark, Finland, Iceland, Norway, and Sweden). It has identified blue economy as one of its strategic focus areas, recognizing that oceans absorb 91% of excess heat energy, produce about half of Earth's oxygen, and capture 30% of CO2. NDF has committed EUR 54.52 million in direct blue economy project financing plus EUR 1.34 million through the EEP Africa program. NDF provides grants, loans, and equity investments for climate change mitigation and adaptation activities in lower-income countries. Their blue economy work covers sustainable fishing, aquaculture livelihoods, coastal ecosystem protection (coral reefs, mangroves), and storm/flood resilience. Projects must deliver climate benefits while addressing poverty reduction. Importantly, NDF does not accept direct applications. Instead, it develops project ideas and financing structures in collaboration with strategic partners — primarily international financing institutions and multilateral organizations. Projects under EUR 500,000 are approved by the Managing Director, while larger projects require two rounds of Board of Directors consideration. Interested parties should contact NDF directly or connect through their existing partner network. NDF's Strategy 2030 framework guides their investments, with particular emphasis on adaptation and resilience, combined adaptation-mitigation benefits, and bridging public and private sectors. Related initiatives include gender-responsive coastal development in West Africa.

Historical Context

NDF has committed EUR 54.52 million in blue economy project financing. Blue economy was chosen as a focus area for COP28 (November 2023). NDF operates under its Strategy 2030 framework. Related initiatives include gender-responsive coastal development in West Africa.

Sources

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