WASHINGTON D. C. , October 8, 2022 – The World Bank approved a $3. 51 million grant from the Global Environment Facility (GEF) Trust Fund to help the Government of Panama’s program strengthen its capacity to conserve biodiversity and encourage biodiversity-friendly measures and inclusive practices in some rural areas of the country.
“Panama’s main GDP participants, adding the canal and tourism, continue to count on sustainable control of our rich herbal resources and globally significant biodiversity,” said Minister of Economy and Finance Hector Alexander. “As a component of this project, we have a duty to make strategic investments with long-term projection and demonstrate our commitment to the protection of the country’s biodiversity. “
Panama’s Sustainable Rural Development and Biodiversity Conservation Project is organized around two complementary pillars to biodiversity management:
· Strengthening institutional capacity for biodiversity conservation through better monitoring, governance and wisdom of biodiversity for 12 protected areas and five key biodiversity sites. It is estimated that 20,000 rural Panamanians will derive indirect benefits from biodiversity conservation and control of herbal and productive resources. The Ministry of the Environment (MiAMBIENTE) will be responsible for the execution of the activities in coordination with the corresponding spouse institutions. Under this component, the task will also be the research, generation and dissemination of knowledge about the intrinsic price of biodiversity in Panama.
· Support biodiversity-friendly investments, economically viable and inclusive activities in nationally dominated buffer zones and key biodiversity domains. The task will help farmers’ organizations and local communities implement sustainable economic activities through productive partnerships. Investment activities will focus on agricultural, agroforestry and silvopastoral systems; ecotourism with practices such as improving energy, water and waste control systems at guest facilities; and strengthening price chains, adding biological and biodiversity-friendly certification processes. To contribute to greater economic inclusion, a minimum point of participation of women (40%) and indigenous teams (25%) beneficiaries will be targeted.
“This allocation will have a positive environmental effect both in the conservation and control of biodiversity around Panama’s national protected areas and key biodiversity areas, as well as in the promotion of income-generating activities in rural communities and in favor of vulnerable groups, such as other indigenous peoples and other Afro-descendants that are a basic component of our work,” said Michel Kerf, World Bank Director for Central America and the Dominican Republic.
The allocation will be implemented over a four-year era with a total charge of $10. 01 million, adding the GEF grant of $3. 51 million. The remaining $6. 5 million comes from co-financing, adding direct counterpart contributions from MiAMBIENTE, a line of credit made to be held through other investment establishments for beneficiaries who execute sub-allocations, and beneficiaries’ own contributions.
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