Protected Areas Trust inks agreement with Caribbean Biodiversity Fund to access loans

May 09, 2022 News

(From left) Chair of Guyana Protected Areas Trust Board of Trustees Mr. Curtis Bernard and Chief Executive Officer of the Caribbean Biodiversity Fund Mrs. Karen McDonald Gayle sign the Partnership Agreement in the presence of other officials

Kaieteur News – The Protected Areas Trust (PAT) recently signed a five year agreement with the Caribbean Biodiversity Fund (CBF) which will pave the way for new loans to be accessed by Guyana.
The agreement was signed on May 3, 2022 by Chair of Guyana’s PAT Board of Trustees Mr. Curtis Bernard and Chief Executive Officer of the Caribbean Biodiversity Fund Mrs. Karen McDonald Gayle. In a statement to the press, it was explained that the agreement is the 10th such for the CBF and will provide the agency with additional resources to fulfill its legislative mandate of co-financing Guyana’s National Protected Areas System (NPAS), as articulated in the Protected Areas Act of 2011.
The PAT explained, “The Partnership Agreement formalizes the relationship between the PAT and CBF and further bolsters PAT’s ability to support the financing and management of Guyana’s protected areas. Under the Agreement, the CBF will manage and invest Endowment Funds for Guyana and make annual payments to the PAT to support its mandate.” During the signing ceremony, Bernard said that the partnership agreement was in the making since February 2020. He further noted that the agreement was timely and would provide well-needed resources for effective management of protected areas in Guyana.
Meanwhile, in congratulating the PAT, Mrs Gayle expressed immense pleasure that the discussions with the Protected Areas Trust have now culminated with the signing of this first 5-year agreement between the two entities.
The PAT is a body corporate established under the Protected Areas Act of 2011 and provides co-financing for the management of Guyana’s National Protected Areas System, principally through the Protected Areas Commission (PAC). The National Protected Area System currently covers 8.5% of Guyana’s terrestrial space in five protected areas – Kanuku Mountains Protected Area (KMPA) in the Rupununi; Shell Beach Protected Area (SBPA) in the coastal north-west region; Kanashen Amerindian Protected Area (KAPA) in southern Guyana, a community-owned protected area and Guyana’s largest protected areas; Kaieteur National Park; Iwokrama Rain Forests; and four urban parks. PAT started operation in 2014 and has, since 2017, provided resources to support the management of the KMPA, SBPA, and KAPA. Learn more at https://protectedareastrust.org.gy/
The CBF is an umbrella fund with a flexible structure to implement innovative solutions for resource mobilization at the regional level through a range of financial instruments. Currently, the CBF manages about USD125 million through its Conservation Finance and the Climate Change: Ecosystem-based Adaptation Programs. The Conservation Finance program focuses on the conservation and effective management of biodiversity and natural resources and is mainly supported through the CBF Endowment Fund. Learn more at caribbeanbiodiversityfund.org.

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