Coast Opportunity Funds oversees and manages $116 million provided by the Province of British Columbia, the Government of Canada, and six private foundations, in two funds:
• The Conservation Fund, a long-term fund designed to support activities that maintain or improve the Great Bear Rainforest.
• The Economic Development Fund, a shorter-term fund designed to create sustainable businesses and community-based employment opportunities over seven years.
Eligible Participating First Nations share contributions from the Funds to support conservation initiatives and economic activities. On application by a Participating First Nation and approval by the Board of projects that meet the funding eligibility criteria that First Nation will receive their dedicated share of the Fund to contribute towards those projects. It is expected that the funding will be utilized by the First Nations to assist them in obtaining additional funding for their projects from other sources, such as private investors. Coast Opportunity Funds staff work closely and collaboratively with Participating First Nations in developing eligible proposals to gain access to their share of the Funds, and to assist them in sourcing additional funding required to conclude their projects.
The two Funds are linked together in their objectives of sustainable development and conservation, support for First Nations communities and collaborative development by Participating First Nations and Coast Opportunity Funds of eligible projects.
Click here to read: From Conflict to Collaboration: The Story of the Great Bear Rainforest.