World Bank Annual Report 2009
GEF-Marine Aquarium Market Transformation Initiative (MAMTI)
Geographic focus Regional Practice area Biodiversity
Donor Funding $7,365,000 Project Cost $22,731,000
Donors GEF Start Date 2004-09-10
Description The project uses conservation management and rehabilitation to ensure the health of coral reef ecosystems and their contribution to poverty alleviation and food security, by 1) transforming at least 17 percent of the worldwide marine aquarium industry, 2) establishing marine management areas, and 3) increasing awareness of the benefits of harvesting marine ornamentals in a manner that conserves global biodiversity. The objective is to transform the marine aquarium trade of the Philippines and Indonesia to ecological and economic sustainability.
Status update
An independent Mid-Term Review (MTR) was conducted and determined that the project was not achieving meaningful results in developing a sustainable system for certifying marine aquarium organisms that fostered market transformation. Recurrent problems with the sponsor's management of the project - grant resources and multistakeholder processes in particular - and the inability to adapt the project approach to new information, have irreparably damaged the critical partnerships upon which the project was founded. Based on the MTR and project supervision, IFC has decided to cancel the grant to the Marine Aquarium Council (MAC) and terminate the MAMTI project.
GEF-Marine Aquarium Market Transformation Initiative (MAMTI)
Geographic focus Regional Practice area Biodiversity
Donor Funding $7,365,000 Project Cost $22,731,000
Donors GEF Start Date 2004-09-10
Description The project uses conservation management and rehabilitation to ensure the health of coral reef ecosystems and their contribution to poverty alleviation and food security, by 1) transforming at least 17 percent of the worldwide marine aquarium industry, 2) establishing marine management areas, and 3) increasing awareness of the benefits of harvesting marine ornamentals in a manner that conserves global biodiversity. The objective is to transform the marine aquarium trade of the Philippines and Indonesia to ecological and economic sustainability.
Status update
An independent Mid-Term Review (MTR) was conducted and determined that the project was not achieving meaningful results in developing a sustainable system for certifying marine aquarium organisms that fostered market transformation. Recurrent problems with the sponsor's management of the project - grant resources and multistakeholder processes in particular - and the inability to adapt the project approach to new information, have irreparably damaged the critical partnerships upon which the project was founded. Based on the MTR and project supervision, IFC has decided to cancel the grant to the Marine Aquarium Council (MAC) and terminate the MAMTI project.