Caribbean Regional Fisheries Mechanism

The CRFM is the lead implantation agency for Caribbean states. The regional fisheries body is uniquely positioned to lead efforts to verify country-led plans and support the implementation of best practices for climate-smart food security in the fisheries sector. International organizations such as the United Nations Food and Agricultural Organization (FAO) and The Nature Conservancy are lending their technical support. All collaborating agencies were invited to attend the working group meeting. Joining CRFM Secretariat staff members, US State Department personnel and officials of the US Embassy in Belize at the COAST meeting in Belize, are representatives of the World Bank, which has supported CCRIF SPC, a Cayman-based agency serving 17 Caribbean nations and Nicaragua, in the creation of the COAST insurance product. According to the CRFM, the World Bank also ensures that the project meets the development objectives outlined by the financial donors â€" the US Department of State â€" including incentivizing risk reduction and coordinating disaster management.