Giti Tire announced a US$ 1 million grant to support the blue economy strategy in Indonesia.
Giti Tire Funds to Preserve Indonesia’s Critical Ecosystems
This grant has generated an additional anonymous matching gift of US$1 million, these grants will be allocated to a new Indonesian foundation, Konservasi Indonesia, which has been working with the national and provincial governments and several local marine communities to sustain marine and fisheries resources. The grant fund will support the development of innovative blended-finance mechanisms and marine protected areas that will provide long-lasting benefits for the nation’s economy, food security, and biodiversity.
With three-quarters of its territory at sea, oceans are vital for the Indonesian economy and welfare. Indonesia’s marine biodiversity is unparalleled and stored in Indonesia’s mangrove and seagrass are significant amounts of blue carbon. The Government of Indonesia has been leading on a blue economy strategy that includes promoting local livelihoods and protecting marine and coastal ecosystems protection and restoration.
Konservasi Indonesia appreciates the support from Giti Tire and other partners to realise the Government’s ambitious blue economy vision in Indonesia. The ocean ecosystems throughout the vast archipelago underpin the country’s economy, livelihoods, and food security. There are emerging opportunities for value creation that is linked with marine protection. Giti Group is thrilled to support this effort as part of its commitment to the natural environment.