BusinessLocal News Multi-million project to restore coral reef by Barbados Today Traffic 12/05/2022 written by Barbados Today Traffic 12/05/2022 2 min read A+A- Reset FacebookTwitterLinkedinWhatsappEmail 735 by Marlon Madden Government is in the process of raising millions of dollars as part of a US$20 million prize money for a coral restoration competition. The Mia Mottley-led administration recently signed a memorandum of understanding with Xprize, a non-profit organisation that prides itself on designing and operating incentive competitions โto solve humanityโs grand challengesโ, to jointly raise the prize money for the Xprise Coral Restoration competition. The competition, which will span several years, is intended to identify innovation needed to โrestore the earthโs coral reefs at an unprecedented speed and scaleโ through one of the worldโs single largest ever coral restoration efforts. Competitors are expected to successfully restore coral reef within a two-year period over a minimum area of three hectares, with at least three different types of corals. Addressing the launch of a recent conference by the global environmental conservation and economic empowerment group โ Athletes, Conservationists, Technologists, Artists and innovators (ACTAI) Global, Prime Minister Mia Mottley said the partnership was critical since coral degradation was too great an issue to ignore. You Might Be Interested In Crystal Beckles-Holder, 2nd runner up in regional competition GUYANA: Body of child found after gold mine collapses Barbadians asked to help with return tickets for Haitians โSo we are now in the process of seeking to help Xprize raise the money so that we can have that innovation,โ said Mottley, who added that โthe ability to be able to reward innovation with a prize as significant as US$20 million I think will do well for all of the rest of us.โ Mottley said she was hoping the initiative would be successful so that it could be replicated in other regions and territories with similar challenges. Stressing the need for partnership, Mottley said her government would also be seeking to attract people to the island to live and carry out research. โIt is going to take a combined partnership to start to move the needle and to do the urgent action,โ she said. Pointing to the need to use up more of the islandโs ocean space, Mottley said she hoped the Xprize competition โwill allow us to highlight to the world that we are not only concerned about coral reef degradation and destruction, but we are serious about doing something about it.โ โWe believe that Barbados can be one of those places where research can continue,โ added Mottley, while indicating that it was her wish for Barbados to be home to a hurricane hunter post. marlonmadden@barbadostoday.bb Barbados Today Traffic You may also like Economy loses steam as global shocks slow growth outlook, Central Bank reports 30/07/2026 BIMPay transactions pass one million mark 30/07/2026 Gun offender fined $30K as judge cites firearm crisis 30/07/2026