The Road to the SDGs

METHOD X Through an appropriately targeted MII, IsDB will be able to help MCs to invest in both large- and small-scale maritime projects using Islamic finance. The characteristics of the planned MII are as follows: X Branded ‘Building the Base of the Blue Economy’ and partly modelled on the Transform Fund, the Maritime Investment Fund will have global ambition and reach, working across the entire IsDB portfolio with a particular focus on least-developed MCs. X It will invest in a range of Blue Economy activities, including aquaculture and seafood, maritime logistics, offshore energy, marine science and tourism. X Significant capital will be committed to address these problems and adapt ocean industries so that they work more effectively. X There are several potential benefits of an MII: – Investment funds can benefit more people outside of developed countries and, to a lesser extent, low- and middle-income countries, as IsDB will be able to use its poverty-reduction mandate to bring Blue Economy investing to those countries that are left out – To enable formally underserved economies to tackle their maritime challenges, IsDB can deploy a full range of services from all the IsDB Group’s departments – Investments can leverage partnerships with external stakeholders including impact investors, philanthropic organisations and commercial investors. ACHIEVEMENTS X Several MII projects have already been introduced, including: – Blue Economy investing policy to guide current and future Blue Economy investment activities across IsDB – Investment agreements currently being developed with international investors and funds – MoU with the Republic of Senegal for Maritime Investment and the Blue Economy – RCI Grant programme to benefit 25 landlocked MCs with no access to maritime routes; the project involves 2,200 senior officials and experts. X A technical assistance grant amounting to US$ 300,000 has been developed to support a capacity-building programme for the aquaculture sector in Morocco. INVESTMENT X Through MII partnerships, IsDB hopes to leverage emerging opportunities from the ocean, which is estimated to have the potential of contributing about US$ 2.5 trillion to the global economy. G L O B A L T R A D E Shipping carries 90% of global trade G L O B A L S E A F O O D I N D U S T R Y 350 million jobs, 10–12% of global employment P R O T E I N V A L U E 1 billion people rely on fish as the primary source of protein in their diet and 3.2 billion people rely on fish for at least 20% of their animal protein consumption [ 87 ] T H E R O A D T O T H E S D G s | P R O G R E S S A N D A C H I E V E M E N T S