The project will help establish the Brazilian Biodiversity Fund (FUNBIO), to be managed by the Getulio Vargas Foundation, a private non-profit organization. An independent Board, composed of representatives from the private sector, the conservation community, academia and government, has been appointed and will be responsible for FUNBIO operational and investment policy. FUNBIO is a sinking fund with a minimum contribution target of $25 million, to be provided by GEF, the private sector, NGOs, the public sector and research institutions. The fund will provide modest long-term financing for projects consistent with biome-level priorities identified in the MMA-managed workshops in the National Biodiversity Project.

Project Details

GEF Project ID
126
Country
Brazil
Implementing Agencies
The World Bank
Approval FY
1991
Status
Completed
Region
Latin America and Caribbean
Executing Agencies
Ministry of Environment and the Legal Amazon (MMA); Brazilian Institute for Environment and Renewable Resources (IBAMA)
GEF Period
Pilot Phase
Project Type
Full-size Project
Focal Areas
Funding Source
GEF Trust Fund

Financials

USD
Co-financing Total
5,000,000
GEF Project Grant
20,000,000
GEF Agency Fees
0

Timeline

Concept Approved
01 May 1991
Project Approved for Implementation
01 May 1991
Project Closed
16 Jun 2005