Locations
Biodiversity Finance Initiative (BIOFIN) Malawi Project
Brief Project Overview
The Biodiversity Finance Initiative (BIOFIN) is a global UNDP-financed programme that supports countries to identify, mobilise, and implement sustainable finance solutions to achieve national biodiversity conservation objectives.
In Malawi, BIOFIN works closely with the Government of Malawi, particularly, the Ministry of Natural Resources and the Ministry of Finance to strengthen biodiversity finance systems by improving public and private investment in biodiversity, enhancing policy coherence, and integrating biodiversity considerations into national development and financial planning.
The project is currently implementing its Biodiversity Finance Plan (BFP), which translates findings from the Biodiversity Expenditure Review, Finance Needs Assessment, Policy and Institutional Review, and Biodiversity Finance Solutions into practical actions. During the current implementation phase, the project has shifted from analytical studies to the implementation of priority finance solutions aimed at increasing and improving biodiversity financing while strengthening institutional capacity across government, the financial sector, and other stakeholders.
Project Objectives
- Support countries to design, prioritise and implement Biodiversity Finance Plans and finance solutions that strengthen institutional and market frameworks for sustainable biodiversity management.
- Establish and expand knowledge-management systems, guidance materials, tools and learning platforms to strengthen the capacity of biodiversity finance practitioners and decision-makers.
- Develop enhanced databases, biodiversity finance indices and analytical tools to support evidence-based decision-making and the tracking of biodiversity finance.
- Develop an effective advocacy and partnership strategy that informs biodiversity finance policy and practice, engages governments, civil society and the private sector, and promotes international collaboration.
- Strengthen technical capacity for biodiversity finance assessment and planning in non-BIOFIN countries through knowledge-sharing, training and technical assistance.
Project Duration
2024 - 2030
Donors
- German Cooperation (BMZ)
- Government of Flanders
- Government of Norway
- The United Kingdom
- Global Environment Facility (GEF)
Geographical Coverage
Nationwide
Implementing Agency
BIOFIN Malawi is hosted by the Environmental Affairs Department (EAD) within the Ministry of Natural Resources, (MNR)
Key Partners
- Environmental Affairs Department
- Ministry of Natural Resources
- Ministry of Finance, Economic Planning
- Academia and Research Institutions
- Civil Society Organisations.
- Reserve Bank of Malawi
Target Beneficiaries
- Government Ministries
- Private Sector
- Civil Society and Academia
- Women, youth and local communities.
Expected Results/Impacts
- Stronger policy frameworks integrating biodiversity finance into national planning.
- Increased government capacity on biodiversity financing.
- Development of new finance solutions (PES, biodiversity offsets, green bonds)
- Enhanced livelihood opportunities for women, youth, and local communities through biodiversity-friendly enterprises.
Key Achievements and Results to Date
BIOFIN Malawi has made significant progress in strengthening biodiversity finance and supporting implementation of the country's biodiversity commitments. Key achievements include:
- Conducted the Policy and Institutional Review (PIR - 2020) Biodiversity Expenditure Review (BER - 2021) and Finance Needs Assessment (FNA - 2021), establishing a baseline for biodiversity financing in Malawi.
- Developed and launched the Malawi's Biodiversity Finance Plan (BFP-2022), providing a roadmap for mobilizing sustainable financing for biodiversity conservation.
- Supported the integration of biodiversity budget tagging into the national budget process, enabling the Government to
- Improve budgetary allocations to biodiversity sectors
- Identify, monitor, and report public expenditure that contributes to biodiversity conservation. This has strengthened transparency, accountability, and evidence-based decision-making for biodiversity financing while improving alignment with national biodiversity priorities.
- Completed a National Biodiversity Offset Strategy, providing guidance for managing biodiversity impacts arising from development projects.
- Strengthened collaboration with financial institutions to integrate biodiversity risks and opportunities into sustainable finance frameworks.
- Built institutional capacity on sustainable biodiversity financing solutions among government ministries, financial regulators, academia, civil society, and the private sector through targeted trainings and policy dialogues.
- Enhanced stakeholder coordination through Technical Working Groups and multi-sectoral consultation processes. Stakeholders were engaged in the following areas
- Development of a biodiversity documentary
- Community interactions on PES, Biodiversity Offsets, etc.
- BIOFIN meetings with Government, private (including finance sector), academia, and NGO sectors
