The World Bank on Wednesday said it has approved a credit of US$35 million to help Kenya promote environmentally sustainable management of its coastal and marine resources.

The Kenya Coastal Development Project approved by the World Bank Board of Executive Directors will also benefit from a US$5 million Global Environment Facility (GEF) grant to strengthen conservation and sustainable use of marine and coastal biodiversity.

“Kenyans living in Coast province are among the poorest in the country, despite the province’s considerable potential for economic growth from tourism, fisheries and other investments,” said in Nairobi Johannes Zutt, the Country Director for Kenya.

The project will promote sustainable management of tourism and fisheries resources in line with the government’s Vision 2030, which identifies tourism as an engine of growth, job creation, poverty reduction and wealth generation in the Coastal region.

It will support governance reforms of fisheries management in an exclusive economic zone and promote research in near-shore fish stocks to increase sustainable and profitable fishing practices.

The project will also improve the management and regeneration of natural resources and biodiversity of the Coastal and marine environments, reflecting the environmental sustainability theme of the Bank’s Country Partnership Strategy for Kenya, which was endorsed by the Board in April 2010.

The project will also promote dialogue amongst national partners and regional stakeholders, and establish a Community Village Fund to build capacity of micro projects through grants.

This investment is the first in a series planned by the government, Bank and other development partners to improve the economic viability of Kenya’s Coast and increase economic opportunities for the estimated 2.5 million people in the region.

Joseph Kimani