BIOFIN started operating in Guatemala in 2014. The project was officially launched in February 2015 by UNDP in coordination with the Ministry of Environment and Natural Resources (MARN), The Ministry of Finance (MINFIN), the National Council for Protected Areas (CONAP) and the Secretariat of Planning and Programming of the President (SEGEPLAN), the principal partners and members of the National Steering Committee.
Biodiversity Finance example in Guatemala
The Fund for the Conservation of Nature (FONACON) is a funding mechanism created with the purpose to promote sustainable development in Guatemala by financing projects and studies targeting environment conservation and sustainable natural resources management.
FONACON advocates for sustainable agriculture practices, sustainable management in protected areas and environmental education for community members living in protected areas, emphasizing the role of biodiversity in providing human welfare.
Supported by Consejo Nacional de Áreas Protegidas (CONAP), the fund allowed several municipalities in Guatemala to be benefited with grants of about US$35,000. The results were especially beneficial to low-income communities living within protected areas and helped to strengthen the sustainability of the country. For more information visit: http://fideicomiso.fonacon.org/.