Biodiversity Finance Initiative (BIOFIN) is a global initiative across 35 countries that contributes to closing the gap for conservation financing by identifying, accessing, combining and sequencing funding sources by implementing finance solutions. The PBSAP project addresses the country’s need to fulfill its obligations under the Convention on Biological Diversity (CBD) and to contribute to the efforts towards implementing the CBD Strategic Plan 2011-2020 at the national level. Integration of the Philippines’ obligations under the CBD into its national development and sectoral planning frameworks through a renewed and participative biodiversity planning and strategizing process will produce measurable targets and indicators for biodiversity conservation and sustainable use. The updated Philippine Biodiversity Strategy and Action Plan (PBSAP), compared with the 2 previous iterations, has its own costing of the strategies and actions as well as a resource mobilization plan, which are among the key strengths of the Plan and where the Bodiversity Finance Initiative (BIOFIN) project contributes to. The Biofin Project will contribute to closing the global financing gap for the conservation and sustainable use of biological diversity by identifying, accessing, combining and sequencing sources of biodiversity funding to meet national needs.
