WWF is in the process of planning a Project Finance for Permanence (PFP) initiative for Belize’s marine and coastal protected areas and associated ecosystems. The PFP will seek to secure up-front commitments from all relevant stakeholders, rightsholders, and implementing partners which will ensure the technical, financial and other resources necessary to achieve the initiative’s long-term marine and coastal conservation goals for Belize.
For any PFP, proper administration of received donations is crucial. A clearly independent entity that is highly qualified, institutionally strong, and trustworthy to manage donor funds must be identified. A PFP’s transition fund and/or endowment fund is managed by a conservation trust fund that already exists, or that is created specifically to administer PFP funds. Nevertheless, any institution that meets the highest standards ensuring that financial resources are protected and transparently managed can act as PFP fund administrator.
The establishment of a conservation trust fund or identification of a fund manager is therefore a critical piece in the development of a PFP. Conservation trust funds that are currently operating in Belize and the Mesoamerican Reef region include the Protected Areas Conservation Trust (PACT), the Belize Fund for a Sustainable Future (BFSF), Belize Nature Conservation Fund (BNCF), and the Mesoamerican Reef Fund (MAR Fund).
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