Endowment Fund
In 2006 the Authority established an Endowment Fund to Support Collaborative Marine Scientific Research on the International Seabed Area. The Fund will aid experienced scientists and technicians from developing countries to participate in deep-sea research organized by international and national institutions. A campaign was launched in February 2008 to identify participants, establish a network of cooperating bodies and seek outside funds to augment the initial $3 million endowment from the Authority.
The International Seabed Authority Endowment Fund promotes and encourages the conduct of collaborative marine scientific research in the international seabed area through two main activities:
- By supporting the participation of qualified scientists and technical personnel from developing countries in marine scientific research programmes and activities.
- By providing opportunities to these scientists to participate in relevant initiatives.
The Secretariat of the International Seabed Authority is facilitating these activities by creating and maintaining an ongoing list of opportunities for scientific collaboration, including research cruises, deep-sea sample analysis, and training and internship programmes. This entails building a network of co-operating groups interested in (or presently undertaking) these types of activities and programmes, such as universities, institutions, contractors with the Authority and other entities.
The Secretariat is also actively seeking applications from scientists and other technical personnel from developing nations to be considered for assistance under the Fund. Application guidelines have been prepared for potential recipients to participate in marine scientific research programmes or other scientific co-operation activity, to enroll in training programmes, and to qualify for technical assistance. An advisory panel will evaluate all incoming applications and make recommendations to the Secretary-General of the International Seabed Authority so successful applicants may be awarded with Fund assistance.
To maximize opportunities for and participation in the Fund, the Secretariat is also seeking donations and in-kind contributions to build on the initial investment of US$3 million. This entails raising awareness of the Fund, reporting on its successes and encouraging new activities and participants.
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