How much funding does ORRAA Canadian-Funded Project Grants (First Wave) provide?

ORRAA Canadian-Funded Project Grants (First Wave) provides $10,000 - $400,000 per project in funding.

When is the deadline for ORRAA Canadian-Funded Project Grants (First Wave)?

This grant has a rolling deadline or the deadline has not been announced.

ORRAA Canadian-Funded Project Grants (First Wave)

OCEAN RISK AND RESILIENCE ACTION

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Funding Amount

$10,000 - $400,000 per project

Deadline

Rolling / Open

Grant Type

foundation

Overview

ORRAA Canadian-Funded Project Grants (First Wave)

Funder: Government of Canada (CAD$9 million contribution announced at COP26 2021)

Program Status: First wave of projects selected November 2022 at COP27 in Sharm El-Sheikh, Egypt

Geographic Scope: Global South, with focus on:

Philippines

Belize

Cabo Verde

Dominican Republic

Fiji

Indonesia

Mozambique

Tanzania

Colombia

Costa Rica

Sweden

Mexico

Honduras

Guatemala

Focus Areas:

Weather index-based parametric insurance for small-scale fishers

Blended finance facilities for effective Marine Protected Areas (MPAs) management

Parametric hurricane insurance for reef protection and coral bleaching coverage

Women's participation and visibility in coastal fisheries

Digital tools and apps connecting fishers with investors and microfinance

Award Breakdown (5 Projects Selected):
1. Rare Inc. - USD$400,000: Weather index-based parametric insurance for small-scale fishers in Philippines (targeting 50,000 fishers, 250,000 people impacted)
2. Blue Finance - USD$380,000: Design and structure USD$22 million blended finance facility for Marine Protected Area management (1 million hectares of coral reefs, 20,000 people benefiting from food security)
3. MAR Fund (with WTW) - USD$350,000: Parametric hurricane insurance for reef sites in Colombia, exploration for coral bleaching and rainfall-driven runoff insurance in Belize and Costa Rica
4. Stockholm Resilience Centre - USD$175,000: Increase visibility of women's contributions to coastal fisheries across Global South (with University of British Columbia and Stanford Center for Ocean Solutions)
5. Comunidad y Biodiversidad - USD$10,000: PescaData app seed grant for fisher-investor connection platform (operates in Mexico, Honduras, Colombia, Guatemala)

Background:

Government of Canada provided initial seed funding of CAD$2.5 million to establish ORRAA in 2019

Additional CAD$9 million announced at COP26 Glasgow as part of Canada's CAD$5.3 billion climate finance commitment

Selection followed global search to maximize impact on coastal resilience and ocean risk mitigation through finance and insurance product development