Biodiversity Finance Plan approved in Cuba

The Cuban Biodiversity Finance Plan was approved in early July by the BIOFIN steering committee at a meeting in Havana with the Vice Minister of the Environment, the Vice Minister of Economy and Planning and the Deputy Resident Representative of UNDP in Cuba.

The Vice Minister of the Environment pointed out the importance of officially formalizing the platform created by BIOFIN for its present and future role in the actions directed to economic and financial issues within the National Plan of Economic and Social Development until 2030 (PNDES 2030) and as part of the country's environmental policy.

The Vice Minister of Economy and Planning highlighted the importance of the initiative, which she considers vital and necessary for the Cuban economy. The representative of the Ministry of Foreign Trade of Cuba, said that it will be necessary to refer to the environmental financial issues in Cuba, before and after BIOFIN and highlighted the positive results achieved.

BIOFIN is progressively becoming institutionalised in Cuba with the government formally approving the Biodiversity Finance Plan as well as support implementing several finance solutions. These include setting up a protected area user management fees and PES in the forestry sector, among others. 

Photo: by Jean-Sébastien Guénette https://flic.kr/p/25mYftH