Financing for environmental protection discussed

2019-05-31 16:59:07

Ulaanbaatar /MONTSAME/. On May 30, a discussion was held for the project, ‘The Biodiversity Finance Initiative’ (BIOFIN), jointly being implemented by the Ministry of Environment and Tourism and the UNDP .

In his opening speech, Deputy Minister of Environment and Tourism Ts.Batbayar noted that solutions to source the necessary financing for studies and researches and for the protection of the environment is currently being determined  in the frameworks of the project.

He highlighted that the discussion, which aims to determine the source of the necessary financing for implementation of the Sustainable Development Goals for 2030 and the Sustainable Development Agenda, is being held during the development of the sixth national report of the implementation of the Convention on Biological Diversity. According to the study that was done in the project frameworks, 50.1 percent of the total financing for environmental protection and rehabilitation of natural resources are from the state and local budget, while the rest 49.9 percent is sourced by aids given by international organizations.

During the discussion, the national consulting team for the BIOFIN project introduced the the current state of policy on environmental protection, its institutes and calculation of necessary financing. They also put forth suggestions for the most suitable and sustainable solutions to source the financing from available resources.

Representatives of UN organizations, government and non-government organizations as well as the public and scholars attended the discussion.

Initiated by the UNDP, the BIOFIN project was launched at the UN Biodiversity Conference in October 2012. With the project being implemented in over 30 countries in Asia, Latin America and Africa, the project has been implemented in Mongolia at the initiation and support of the Ministry of Environment and Tourism since September 2015.