CBF Status: Participating Country; Fund nominated; Working on Pre-financing grant application
In order to address the issue of financial sustainability for the protected areas in the Bahamas, The Bahamas Protected Area Fund (BPAF) Act was drafted and includes efforts towards the partnership agreement to accommodate the Caribbean Biodiversity Fund (CBF) and other donors both local and international from whom donations might be received.
The BPAF Act was passed in 2014 and BPAF launched on 9 July 2014.
The BPAF seeks to fund an effectively managed national PAs system via grants to local PA managers.
Its mission is to ensure the sustainable financing for the management of protected areas in the Bahamas, including activities under the Caribbean Challenge Initiative and secure the objectives of the Caribbean Biodiversity Fund.
The BPAF’s Act allows for a broad range of revenue sources including public and private donations, gifts and bequests, fees, investments and proceeds from the sale of tangible and intangible property.
Current funding sources for the BPAF include subventions from the Government of The Bahamas, a one-time allocation from the Global Environment Facility (GEF), conditional disbursements from the Caribbean Biodiversity Fund, and any interest that the Fund accrues.
The BPAF functions under the core principles of:
- Transparency: This principle is embodied in the BPAF Act’s provisions on conflict of interests and audits.
- Accountability: This principle is embodied in the BPAF Act’s provision for the Board to issue an annual report to the Minister who shall share a copy with the House of Assembly and the Senate and to make the auditor’s annual report publicly available.
- Independence / Non-Political: This principle is embodied to the BPAF Act’s provision that the Fund not publish propaganda, attempt to influence legislation or participate in any political campaign or on behalf of any political candidate or party.
Learn more about the BPAF at http://www.bahamasprotected.com/
Social Media: https://www.facebook.com/pg/Bahamas-Protected-Areas-Fund