The Investment Fund (IF), led by the World Bank and co-financed by the GEF was established in 2007 to accelerate the transboundary pollution reduction, improve water resources management, and biodiversity conservation measures in priority hotspots (locations with high pollution or degradation levels) around the Mediterranean Sea. The Investment Fund for the Mediterranean Sea Large Marine Ecosystem Partnership received US$ 22 million from the GEF as first tranche finance three projects:
Croatia/Bosnia& Herzegovina: Neretva and Trebisnjica Management Project,
Croatia: Coastal Cities Pollution Control Project, and
Egypt: Alexandria Coastal Zone Management Project.