The Caribbean Biodiversity Fund (CBF) and the newly established Dominica National Conservation Trust Fund (DNCTF) yesterday signed a Partnership Agreement which will allow access to sustainable financial flows in Dominica for the conservation of the environment. The funds have been made available by the German Development Bank KfW.
The Partnership Agreement, the 11th such for the CBF, will support the DNCTF as it establishes its grantmaking activities and implementation of actions to protect and conserve the island’s terrestrial and marine areas. Under the Agreement, the CBF will manage and invest Endowment Funds for Dominica and make annual payments to the DNCTF to support its mandate.
Other countries who have already signed agreements with the CBF to access the Endowment Fund are: Antigua and Barbuda, The Bahamas, Dominican Republic, Grenada, Guyana, Haiti, Jamaica, St. Lucia, St. Kitts and Nevis, St. Vincent and the Grenadines.
The DNCTF joins these Funds on their mission as the Caribbean Sustainable Finance Architecture (CSFA) to support activities that contribute substantially to the financing and long-term conservation and maintenance of biodiversity in the region. The CSFA— composed of the regional Caribbean Biodiversity Fund (CBF) and the now eleven Partner Trust Funds —is the realization of a vision to create reliable, long-term funding for conservation and sustainable development that will benefit the Caribbean region for generations to come.
To date, the CBF has disbursed US$ 6.6 million to the above-mentioned National Conservation Trust Funds, which includes flexible funding for the sustainable environmental recovery post hurricane Dorian in the Bahamas and post volcanic eruption in St. Vincent and the Grenadines.
About the Caribbean Biodiversity Fund (CBF)
The CBF was established in 2012 to create reliable, long-term funding for conservation and sustainable development in the Caribbean region.
It is a regional umbrella environmental fund that uses a flexible structure to implement innovative solutions and consolidate resource mobilization in the Caribbean through a range of financial instruments.
Currently, the CBF has three programs, the:
About the Dominica National Conservation Trust Fund (DNCTF)
Established in September 2022 with a Board of 11 biodiversity champions from the island, the mission of the DNCTF is “to administer funds to support the long-term management and expansion of the Commonwealth of Dominica land areas and sea areas which are specifically dedicated to the protection and the maintenance of biological diversity and natural resources and other activities that contribute substantially to the conservation, protection and maintenance of biodiversity as identifies after consultation with stakeholders.”