Madagascar is the fourth-largest island with its 587,000 km2 territory and 5,600 km of coastline composed of natural environments that are among the most diversified in the Indian Ocean. Approximately 90% of all animal and plant species found in Madagascar are endemic. Given its unique biodiversity, Madagascar identified as one of the megadiverse countries in the world amongst 17 in total.
The country benefits enormously from its biodiversity. More than 18 million of its inhabitants are dependent on biodiversity for their subsistence needs, with 80% being entirely dependent on natural resources.
An expression of interest for BIOFIN regional node was received from Madagascar early September 2017. A scoping mission took place in June 2018 to kick-start the national BIOFIN process.
Madagascar has recently joined BIOFIN initiative for Phase II, finance solutions will be developed after a successful assessment phase.