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Conference agrees $19 billion for ocean conservation

Conference agrees $19 billion for ocean conservation

At the international conference “Our Ocean” in Panama City, participants pledged nearly 19 billion dollars (17.8 billion euros) for the protection of the oceans. This was announced by Panama’s Deputy Foreign Minister Yil del Carmen Otero on Friday. Pledges alone include $6 billion from the United States.

About 600 delegates from governments, corporations and non-governmental organizations gathered for the two-day conference on Thursday. They discussed various threats to the oceans and possible conservation measures.

Among other things, it aims to expand marine protected areas, reduce pressures on the oceans and ensure a sustainable “blue economy” – equivalent to a green economy in relation to the oceans.

The convention was not intended to be a binding agreement, but instead participants made individual financial commitments. Among other things, the U.S. already pledged about $6 billion on Thursday for ocean defense this year.

This money is to be distributed among 77 maritime projects. For its part, the European Union (EU) announced a good 816 million euros for marine protection.

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