Known as the CaspEco initiative, the project is part of a multi million dollar programme of cooperation between Azerbaijan, Iran, Kazakhstan, Russia and Turkmenistan, the five nations with stakes and interests  in the ecological and mineral wealth of the Caspian Sea. CaspEco is funded by the Global Environment Facility (GEF) to the tune of $5 million with additional funds being provided in-kind by the coastal countries.

The isolation of the Caspian basin has created an ecological system with 400 unique species, including seals and caviar-producing sturgeon, many of which are now under threat.  Fish stocks have declined in recent years due to overfishing, poaching, dam construction, pollution and the introduction of invasive species through man-made canals and rivers flowing to the Black and Baltic Seas.

The project will strengthen environmental governance and increase sustainable management of the Caspian’s natural resources. GEF will help the participating governments to work together to reduce overfishing and reform the use of natural resources. UNOPS is currently staffing a Project Coordination Management Unit to be based in Astana, Kazakhstan, to implement the project.

Representatives from Azerbaijan, Iran, Kazakhstan, Russia and Turkmenistan attended the Astana project launch meeting. Also present were the United Nations Development Programme (UNDP), the UN Environmental Programme (UNEP), UN Food and Agriculture Organisation (FAO), the International Maritime Organisation (IMO), the International Atomic Energy Agency (IAEA) and the World Bank. The meeting was opened by Mr. Nurgali Ashimov, the Minister for the Environment of Kazakhstan.