USASEAN hosted a panel discussion with regional experts on how to preserve and develop the blue economy in ASEAN. Panelists included representatives from the ASEAN Secretariat, Indonesia Ocean Justice Initiative, and ASEAN Centre for Biodiversity. In the panel discussion on Green Finance, the U.S. Development Finance Corporation discussed how debt-for-nature swaps could be used to enhance biodiversity conservation and the head of ASEAN Catalytic Green Finance Facility at the Asian Development Bank shared how it successfully issued its first blue bond of $300 million last year while noting that a lack policy harmonization, economic incentives, and pipeline of bankable projects continue to be barriers to blue investment. The United States is committed to supporting the sustainable development of the blue economy in ASEAN, including via assistance from USAID.
Source: U.S. Mission to ASEAN