New Source of Funding for Bahamas Protected Areas Fund with Signing of CBF Partnership Agreement
December 15, 2020 The Bahamas Protected Areas Fund (BPAF) and the Caribbean Biodiversity Fund (CBF) signed a Partnership Agreement on November 19, 2020. The agreement signifies a long-term source of support for BPAF to facilitate grant making in conservation on the ground and in the waters of The Bahamas.
Chair of BPAF, Mrs. Kelley Bostwick-Toote, expressed her delight at the signing, noting that “the CBF has proven to be a committed and essential partner from inception. BPAF is now poised to take its place as a key funder of environmental protection and natural resources management in The Bahamas in what is increasingly, more serious environmental times. This partnership will enable the Fund to form and better more strategic alliances and make more immediate interventions in the fight to sustain our people, preserve our country and provide opportunity to individuals and organizations who wish to join or assist BPAF’s efforts and endeavors to do so”.
The Bahamas Protected Areas Fund (BPAF) was established in 2014 with its general purpose being to ensure sustainable financing into perpetuity for the management of Protected Areas in The Bahamas.
In congratulating BPAF on their achievement, Mr. Yabanex Batista, CBF’s CEO remarked that “this Partnership Agreement is a significant step for BPAF and CBF for long-term sustainable funding”. He went on to note that, “BPAF has already established itself as an implementor and facilitator in conservation projects in the islands through a CBF grant supporting The Bahamas’ recovery from Hurricane Dorian". Executive Director of BPAF, Karen Panton, stated that the signing of the Partnership Agreement is a significant milestone for the Fund and comes at an opportune time when environmental groups, reeling from the economic fall-out from COVID-19, are struggling to fund urgent actions across our islands”
The CBF is an umbrella fund with a flexible structure to implement innovative solutions for resource mobilization at the regional level through a range of financial instruments. Currently, the CBF manages about USD125 million through its Conservation Finance and the Climate Change: Ecosystem-based Adaptation Programs. The Conservation Finance program focuses on the conservation and effective management of biodiversity and natural resources and is mainly supported through the CBF Endowment Fund.