BIOFIN Niger, a green approach to financing biodiversity

On Wednesday 17 and Thursday 18 July 2024, the United Nations Development Programme (UNDP) in Niger, with financial support from the Kingdom of Belgium, organized a workshop with the overall aim of validating the provisional report of the Biodiversity Funding Needs Assessment (BFI) and launching the stakeholder consultation process on the development of the Biodiversity Funding Plan (BFP). This workshop is part of the implementation of the BIOFIN Initiative in Niger to develop innovative financing tools for biodiversity and align public spending with the Sustainable Development Goals (SDGs).

A major challenge for threatened biodiversity.

Niger is home to a rich natural diversity, with more than 1,400 plant species, 130 mammal species and 150 reptiles and amphibians. However, the country faces major conservation challenges, with more than 70 protected areas having already lost much of their biological diversity.

To meet this challenge, Niger joined the Biodiversity Finance Initiative (BIOFIN) on 22 March 2023. BIOFIN aims to redirect financial flows towards nature conservation. Implemented in 132 countries, the programme has developed more than 150 financing solutions tailored to local needs.

Multi-sector collaboration for a concrete action plan.

The workshop to validate the Financial Needs Assessment (FNA) and consult stakeholders on the process of drawing up the Biodiversity Finance Plan (BFP) brought together local stakeholders, in particular sector representatives, the representative of the Belgian Embassy in Niger, the private sector, civil society organizations, INRAN and the Abdou Moumouni University of Niamey, in the presence of Jane O. YEBOAH, Deputy Resident Representative of UNDP Niger. This collaborative approach guarantees the involvement of all national stakeholders in the process, to ensure greater ownership of the documents.

The financing plan is aligned with Niger's National Biodiversity Strategy and Action Plan (NBSAP 2014-2020). Biodiversity funding requirements for the period 2024-2030 are estimated at 797.665 billion CFA francs, or around 1.33 billion US dollars.

^{Family photo of participants photo credit: UNDP Niger}

The BIOFIN approach: Efficiency and innovation at the service of biodiversity

The BIOFIN strategy, which is based on reducing financial needs, aims to make more sustainable and efficient use of financial resources for biodiversity conservation.

During the workshop, Ms Jane Yeboa, Deputy Resident Representative of UNDP Niger, emphasized that "the Financial Needs Assessment (FNA) provides a solid basis for assessing the resources needed to achieve national biodiversity conservation objectives in Niger". She went on to point out that "The development of the Biodiversity Financing Plan for Niger marks an essential step forward; a cornerstone that paves the way for enlightened management of natural resources and promises a sustainable future for our nation."

Once validated, the Biodiversity Financing Plan will be implemented by 2030, accompanied by efforts to build the capacity of the stakeholders involved. The plan promises not only to protect Niger's rich natural heritage but also to pave the way for a greener, more resilient economy.

The Deputy Resident Representative expressed UNDP Niger's pride in supporting the Government and people of Niger in their efforts to increase understanding and awareness of biodiversity issues.

By aligning financial resources with environmental objectives, Niger is setting an example of sustainable development that balances economic progress with ecological preservation. The success of this initiative will depend on the continued collaboration and commitment of all stakeholders to ensure a sustainable future for generations to come.