Fiji, Oct. 29 -- A US$15 million Green Climate Fund (GCF) investment will help establish a US$60 million fund to finance locally owned businesses protecting reefs and strengthening climate-resilient livelihoods in Fiji, Tonga and Vanuatu.

The Matanataki Pacific Fund 1 will invest in about 15 to 20 small businesses and community-owned cooperatives working in waste management and recycling, regenerative agriculture, sustainable fisheries and low-impact tourism.

GCF Regional Director for Asia and the Pacific, Hemant Mandal, said the investment would help attract additional capital for Pacific businesses delivering climate adaptation benefits.

"GCF's anchor investment will help catalyse a fund targeting US$60 million in capital to invest i...