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Africa Looks to Private Sector to Fund Ocean Climate Action

Fish swimming by a coral reef off Pate island on the coast of Kenya. 

Fish swimming by a coral reef off Pate island on the coast of Kenya. 

Photographer: Tony Karumba/AFP/Getty Images

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Mombasa, Kenya (AP) -- Countries on Africa's west coast are increasingly turning to climate funding initiatives to boost livelihoods of oceanside communities, aid biodiversity and take climate action.

On the margins of the high-level political forum on sustainable development currently underway at the United Nations headquarters in New York, African coastal and island states and conservation groups outlined plans to boost ocean conservation and economic development through a system of “ blue bonds” — a method of financing projects that would also benefit ocean health.