The World Bank’s Board of Executive Directors approved a project on September 30, 2013 to support the Capturing Coral Reef and Related Ecosystem Services Project, with US$4.5 million in grant funding provided by the Global Environment Facility (GEF). This regional project will design innovative models for valuing mangrove, seagrass, and coral reef ecosystem services to inform policy and decision-making for improved environmental stewardship of these critical resources.