Madagascar is the fourth-largest island with its 587,000 km2 territory and 5,600 km of coastline composed of natural environments that are among the most diversified in the Indian Ocean. Approximately 90% of all animal and plant species found in Madagascar are endemic. Given its unique biodiversity, Madagascar identified as one of the megadiverse countries in the world amongst 17 in total.
The country benefits enormously from its biodiversity. More than 18 million of its inhabitants are dependent on biodiversity for their subsistence needs, with 80% being entirely dependent on natural resources.
An expression of interest for BIOFIN regional node was received from Madagascar early September 2017. A scoping mission took place in June 2018 to kick-start the national BIOFIN process.
PRIORITIZED FINANCE SOLUTIONS
Madagascar has recently joined BIOFIN initiative for Phase II, finance solutions will be developed after a successful assessment phase.
Policy and Institutional Review (PIR) report is aiming to provide an overview of current policies, institutional framework and existing finance mechanism to improve the utilization of biodiversity activities. Madagascar has recently joined the BIOFIN initiative and PIR is planned to be developed in 2019.
Biodiversity Expenditure Review(BER) serves as a report to analyze current findings, key fiscal management and policy challenges conducted in line with the overall assessment of BIOFIN activities in Madagascar. Internal examination for BER is planned to be developed in 2019.
The main purpose of the Financial Needs Assessment report is to present the preliminary estimates of financing needs for biodiversity conservation for Madagascar and finance required to deliver biodiversity targets and plans, in line with the NBSAPs.