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eaders of the six Coral Triangle countries concluded their summit in Manado on Friday with state members and donors pledging a total of US$120 million in funding for coral conservation activities in the 75,000-square-kilometer Coral Triangle area.

The Coral Triangle - bounded by Malaysia, the Philippines, Papua New Guinea, the Solomon Islands, Timor Leste and Indonesia -makes up 1 percent of the Earth's surface but contains 76 percent of its coral reef species and 37 percent of its reef fish species, and supports the lives of more than 100 million people.

Under the Coral Triangle Initiative on Coral Reefs, Fisheries and Food Security (CTI-CFF), the leaders signed a declaration vowing to cooperate to safeguard the world's richest marine resources and ensure the income, livelihoods and food security of millions dependent on the triangle.

In his opening speech, President Susilo Bambang Yudhoyono pledged US$5 million to support the implementation of CTI programs, and also offered to host the CTI's permanent secretariat by providing full financial support for its daily operations.

"If other coral triangle countries accept this offer, we are prepared to provide full financial support for the day-to-day operations of the secretariat," he said.

Yudhoyono, Malaysian prime minister Mohd. Najib Tun Abdul Razak, Papua New Guinea prime minister Michael Somare, Philippine president Gloria Macapagal Arroyo, Solomon Islands prime minister Derek Sikua and Timor Leste president Jose Ramos Horta then adopted the CTI Regional Plan of Action, a non-binding document to conserve and manage coastal and marine resources within the coral triangle.

The Philippines has promised to contribute $5 million, with Papua New Guinea and Malaysia pledging $2 million and $1million, respectively.

From the donor countries, the US will commit $41.6 million and Australia said it would provide an initial $1.5 million. The Global Environment Facility (GEF), the largest donor organization under the UN, has provided $63 million.

Najib said the implementation of coral triangle projects should be based on national priorities and in line with national policies of each of the six member countries.

"We, too, must recognize the role of local and indigenous communities in this area and integrate their traditional, scientific, technical and technological knowledge in this project," he told the summit. "This is to ensure relevancy of the project on the ground."