Grants from the fund will support conservation projects which benefit coral reefs worldwide. In addition, they provide important natural protection for our coastlines from high waves, storm surges and coastal erosion. Further, these coral reefs are vital for the protection of many marine habitats. Coral Reef Background Information Coral reefs are among the world's most biologically diverse and productive marine habitats and are found along the coasts of 110 countries. Within the United States, coral reefs are found in Florida, Hawaii, Texas, Georgia, and U.S. Territories in the Caribbean and Pacific.
Coral reefs have both economic and ecological value.
They generate tourism, provide habitat for many commercial fisheries, are a new frontier source for biomedicines and pharmaceuticals, and provide natural protection to coastlines from storms, coastal erosion, and the accompanying threats to human life and property. At present, coral reefs are threatened by numerous natural and human-induced factors, including predators, disease, intense tourism pressure, destructive fishing practices, vessel damage, and pollution. Nearly 10 percent of the world's reefs have degraded or have been destroyed, and this figure is expected to reach 20 to 30 percent by the year 2010. Monetary donations can also be placed in the Fund. The Fund will be administered by the Commerce Department and will support coral reef conservation projects conducted by governments, nongovernmental organizations, or individuals with relevant expertise.