UNDP Highlights BIOFIN Solutions for Sustainable MPA Financing in Viet Nam

On May 15, 2024, in a workshop with all Marine Protected Areas (MPA) partners in Viet Nam, UNDP presented key insights into BIOFIN’s methodologies and solutions. The presentation emphasized innovative financing mechanisms that have been successfully implemented worldwide under BIOFIN to support biodiversity conservation. UNDP aimed to introduce and discuss these viable financing mechanisms to Viet Nam’s MPAs, focusing on sustainable financing options that could be adapted to local contexts. Additionally, UNDP highlighted BIOFIN's work in Vietnam, showcasing successful initiatives such as the implementation of ecosystem service payment schemes, the development of user fees for marine conservation, co-management for fishery resources protection, and fishery resource protection fee.