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Conservation Finance in Review: Are Trust Funds effective tools for conservation finance?

Conservation Finance in Review: Are Trust Funds effective tools for conservation finance?. The Case of the Madagascar Foundation for Protected Areas and Biodiversity. Léon M. Rajaobelina Chairman of the Board of the Foundation Barcelona October 7, 2008. The Vision.

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Conservation Finance in Review: Are Trust Funds effective tools for conservation finance?

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  1. Conservation Finance in Review: Are Trust Funds effective tools for conservation finance? The Case of the Madagascar Foundation for Protected Areas and Biodiversity Léon M. Rajaobelina Chairman of the Board of the Foundation Barcelona October 7, 2008

  2. The Vision • To ensure long term funding for biodiversity conservation in Madagascar. • To reduce dependency on funding from external donors. • To ensure better appropriation by national stakeholders. The initial Objective : a fifty million dollars Trust Fund

  3. The Key Stages • October 2000: Committee on sustainable financing of environmental activities created • October 2001: Steering Committee for the creation of Trust Fund created. • August 2004: new Law on Foundations passed by Parliament . • January 2005: Madagascar Foundation for Protected Areas and Biodiversity formally established.

  4. The Road to the Creation • Strategy was followed to reach agreement with potential donors before creation on basic issues : • new Law on Foundations to replace the existing one, found inadequate, with provisions on : • - authority to hold assets outside the country; • - special tax regime; • - full independence of the Board. • statutes and by-laws.

  5. The Road to the Creation (cont.) • Funding policy and manual of procedures. • Investment policy, ensuring security of Funds (investment manager to be hired in open and transparent manner). • Hiring procedures of management. • Strategy proved very successful, to the extent that commitments up to 20 millions US Dollars secured before the creation of the Foundation!

  6. Present Situation (Oct. 08) • Endowment Fund

  7. Present Situation (cont.) 2. Sinking fund (*) to be disbursed over 23 years (yearly installments of 425 000 Eur. In June 2007, Foundation has signed its first grant agreement to ANGAP (the National Park service), funded by sinking fund.

  8. Lessons Learned • Secure support from Government since inception. • Establish early on dialog with potential donors and agree with them on basic principles even before creation. • Identify fully committed Board of Directors and Management. • Develop good fundraising strategy.

  9. The Next Steps • Continue fundraising beyond the 50 million dollars. • Establish track record in granting and • supervisory roles. • Work with Government and donors to secure the financing of the parks system and the central role of the Foundation therein.

  10. Thank You !

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