The Department of Environment and Natural Resources (DENR) and Conservation International are now preparing the design of a $4-million project to be funded by the Global Environment Facility (GEF) to conserve and protect the Benham Bank and sustain its near pristine condition. The proposed five-year project, titled Philippine Rise Integrated Conservation for Enduring Legacies through Ecosystem Support Services (Priceless) will be financed under the 7th Replenishment Cycle of the Global Environment Facility (GEF-7). It will be executed by the DENR in partnership with nongovernment organizations, Conservation International and Rare Philippines. GEF-7 will provide a $4-million grant, with an expected co-financing from the Philippine government, conservation partners, and other key stakeholders in the Philippine Rise Region.

DENR aims to bag $4-M grant to enhance the protection of Philippine Rise (Benham Bank). (2021, June 25). The Manila Times, p. B12.