Southern Africa - Cubango-Okavango River Basin (CORB) : Financing Innovation in Transboundary Waters Project

Overview & Synopsis

Cubango-Okavango River Basin (CORB): Financing Innovation in Transboundary Waters for Angola, Botswana, and Namibia has the development objective to support the capitalization of the Cubango-Okavango River Basin Fund (CORB Fund) towards sustainable development in the Cubango-Okavango River Basin (CORB). Component 1. CORB Fund Capitalization strengthens and operationalizes the CORB Fund and advances collaboration for its long-term sustainability. Sub-components include: 1.1 Establishment and implementation of governance and operational systems to staff key Secretariat positions, build capacity on innovative financing and stakeholder engagement, and establish procurement, financial management, human resources, and environmental and social systems with gender inclusion; 1.2 Stakeholder coordination to convene donor coordination mechanisms, basin-wide forums and roundtables, conduct roadshows with traditional and non-traditional partners, and institute regular engagement among the Permanent Okavango River Basin Water Commission (OKACOM), member states, ministers of finance, and international cooperation partners; 1.3 Communications and knowledge management to implement the CORB Fund communication strategy and facilitate knowledge exchange, including through the International Waters Learning Exchange and Resource Network (IWLEARN); 1.4 Capitalization of the Endowment Fund through seed capital and establishment of an Investment Committee, investment policy and guidelines, a custodian account, and engagement of a professional fund manager to ensure sound asset management and governance. Component 2. CORB Fund Pipeline of Potential Investment develops a robust pipeline aligned with OKACOM priorities and strengthens the evidence base for biodiversity-informed investments. Sub-components include: 2.1 Preparation of the CORB Fund financing roadmap and concepts for investment at pre-feasibility and feasibility, including market sounding on financing needs and instruments, prioritization with member states, and preparation of studies with economic and financial analyses and environmental and social assessments that integrate climate resilience, gender, and the inclusion of Indigenous Peoples and Local Communities to attract co-financing; 2.2 Enhanced capacity on the economics of biodiversity through a basin-wide study valuing key ecosystem services, a biodiversity–livelihood investment case, capacity building to integrate biodiversity valuation into national policies and CORB Fund investment criteria, and regional guidelines to operationalize biodiversity valuation with gender-responsive and socially inclusive considerations. Component 3. Project Management and Monitoring and Evaluation (M&E) supports implementation and performance tracking through Secretariat project management functions, audits, office operations, and a results-based M&E system that includes an inception workshop, periodic Project Steering Committee meetings, and midterm and completion evaluations, with gender-responsive indicators and sex-disaggregated data collection.