UNDP has announced a new framework of 1.5 billion US dollars for biodiversity conservation to achieve global targets by 2020. Unveiling the new framework at a press conference in Hyderabad today, UNDP under Secretary General, Rebeca Grynspan said these funds will be utilized for conserving and protecting an area of 1.4 million hectares across the world and provide over 1.2 billion people assured livelihoods in 100 countries. She further said the UN agency will work with the Governments of the member countries to find new ways to finance biodiversity management through domestic funds, innovative financial mechanism for projects which foster economic growth, create jobs and conserve endangered species.

Stating that the new frame work will further leverage another 3.5 billion dollars from the Governments of those countries, she said all stakeholders including Non-Government agencies and Local Communities will be involved in the activities. The authorities have also said a Coastal Protection programme for Sindhu Durg and Godavari areas is on cards.

Meanwhile, the World Bank has stressed the need for mobilizing funds under Public and Private Partnerships and Community Action for biodiversity conservation to secure healthy eco-systems and improve livelihoods of people. Stating that there is not enough public money to be able to invest in the biodiversity conservation, Rachel Kyte, World Bank Vice President for Sustainable Development said new approaches are needed to finance nature conservation efforts.