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Germany donates six million euros for biodiversity conservation in Mozambique
11:50 CAT | 11 Mar 2016
The Germany’s International Cooperation Agency has signed an agreement with Mozambique for the donation of six million euros to the Foundation for the Conservation of Biodiversity (Biofund) through the German KfW Development Bank.
Germany’s contribution was announced by Ambassador Philip Sauer, and brings the German International Cooperation Agency’s contribution to biodiversity conservation to 16 million euros, according to a statement released by Biofund, a private, non-profit organization, whose goal is to finance sustainable biodiversity conservation.
Along with donations from the World Bank, the Global Environmental Facility and Conservation International, Biofund currently has reserves of US$22 million (EUR 19.6 million).
“Biofund is expected to start financing conservation areas using interest on investments, as well as other funds that it may raise,” the statement reads.
According to the Conservation Finance Alliance standards, Biofund is the first environmental foundation of its kind in Mozambique.
Source: Lusa
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