Madagascar
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.
Policy and Institutional Review (PIR) report is aiming to provide an overview of current policies, institutional framework and existing finance mechanism to improve the utilization of biodiversity activities.
The BFP presents a suite of finance solutions designed to address the finance gap in a comprehensive and complementary manner. In Madagascar, 14 Finance solutions have been prioritized:
- SF 01: Debt-for-nature swaps
- SF 02: Mobilize financial resources to ensure sustainable management of forest resources
- SF 03: Set up a coordination platform for protected area (PA) managers to improve the efficiency of PA management, maximize available resources and support the mobilization of additional resources.
- SF 04: Increase REDD+ revenues, by facilitating access to REDD+ financing by the private sector in Madagascar.
- SF 05: Strengthen the legal framework for Environmental Impact Assessments and Environmental Commitment Programs (PREE) and biodiversity offsetting
- SF 06: Promotion of sustainable fishing (application of the Marine Spatial Plan-MSP)
- SF 07: Roadmap to access blue carbon market opportunities
- SF 08: Increase and improve the effectiveness of bi- and multilateral aid for biodiversity
- SF 09: Improve public budget execution through results-based management (RBM)
- SF 10: Development and implementation of a sustainable financing plan to promote climate-smart agriculture (CSA) in land-clearing areas
- SF 11: Promote sustainable tourism for biodiversity management
- SF 12: Promote capacity building for Ministries on natural capital accounting and improve data sharing to enhance budget planning
- SF 13: Operationalize the framework for Access to Genetic Resources and the Fair and Equitable Sharing of the Benefits Arising out of their Utilization (ABS ) by developing the legal framework.
- SF14: Corporate Social Responsibility (CSR) in favor of Biodiversity
