SME BlueImpact
In 2021, Ocean Assets Group (OAG) launched the blue economy SME finance initiative envisioned in its Financing the Blue Economy study for Asian Development Bank (ADB), UN Development Program (UNDP) and UN Environment Program (UNEP). In 2022, UNDP gave structure to the initiative with a pilot mandate to OAG. The test went well and the need was confirmed: Blue SMEs need representation and aggregation to access capital for sustainable growth. BlueDeals is the answer, managed and co-funded by OAG. In 2023, therefore, ADB continued with support for a program titled SME BlueImpact Asia, with a regional mission similar to the global BlueDeals platform. To achieve economies of scale and reach a global investment audience, we host the ADB initiative on the BlueDeals platform - where investors and projects may register.
This plan outlines the Asian Development Bank’s enhanced support during 2022–2024 toward conserving and restoring ocean health and resilience and building a stronger blue economy for Asia and the Pacific. For details and progress, click on the link above. This is part of ADB's Healthy Ocean Action Plan, a $5bn commitment to catalytic funding of developing Asia's blue economy.
Why Focus on Asia?
Maritime industries - seafood, shipping, ports - are dominated by Asian countries & industries. In addition, marine ecosystem and coastal resilience issues are most acute in the developing countries of Asia and the Pacific. Here, SMEs drive 90% of economic activity - yet struggle for access to affordable capital for sustainable growth.
Therefore, the Asia focus of SME BlueImpact is the most essential region covered by the global BlueDeals platform as we fill the blue finance gap.