Cubango-Okavango River Basin Fund

Overview
The Okavango Delta is globally recognised as a biologically rich and valuable ecosystem, as demonstrated by its status as a Wetland of International Importance (Ramsar site), UNESCO’s 1,000th World Heritage Site, and the centrepiece of Botswana’s vibrant tourism. The Cubango-Okavango River Basin (CORB) ecosystem is currently nearly pristine, a global rarity in the 21st century among large rivers.
The CORB Fund is a hybrid fund (sinking and endowment vehicles) that aims to enhance livelihoods and provide equitable benefits to its member states (Angola, Botswana and Namibia). It achieves this by implementing interventions that improve the resilience of critical ecosystem services in the river basin – to the threats of climate change and increasing resource demands from its inhabitants.
Investment request
Sinking fund: US$16.5 million
Endowment vehicle: US$200 million
Capitalisation plan:
- The first phase – the ‘demonstration phase’ – will target an investment of US$16.5 million that may include one-off US$0.5 million payments from each member state and a US$15 million commitment from bi-lateral development partners. The sinking vehicle is designed for a five- to seven-year lifespan.
- The second phase – the ‘fundraising phase’ – will likely commence after two years when the Fund has developed a track record. In this phase, high net-worth individuals, foundations, corporates and impact investors will be targeted to endow the Fund with US$200 million, or more.
- Once the initial target of US$100 million has been reached, the third ‘investment phase’ will commence and the Fund will continue its fundraising efforts to reach the US$200 million target.
Main sponsor(s)
Private sector: The Nature Conservancy: US$150,000 for the Fund’s value proposition
Public sector: Governments of Angola, Botswana and Namibia, represented by the Permanent Okavango River Basin Water Commission