Environmental experts and policymakers sounded the alarm during the 11^th Biodiversity Finance Regional dialogue in Kigali: the time for half-measures in biodiversity conservation is over. The urgent need to craft and implement innovative financing strategies to close the biodiversity finance gap took center stage during the dialogue that brought together Africa and the Arab States. It was a rallying cry for decisive, collective action to reverse the tide of ecological decline.

Delegates engaged in frank discussions on how to address the chronic underfunding of biodiversity initiatives. With an estimated global biodiversity finance gap exceeding USD 700 billion annually-- and only USD 121 billion currently invested each year - this massive shortfall makes meaningful progress in biodiversity conservation extremely difficult if not impossible. This gap is not merely a statistic, it represents degraded ecosystems, endangered species at risk of extinction, and communities increasingly vulnerable to the impacts of biodiversity loss.

Recognized across the continent for its leadership in environmental sustainability, Rwanda provided highly appropriate setting for these important discussions. Rwanda’s accomplishment, ranging from banning single-use plastics and restoring degraded landscapes to integrating conservation in national policy demonstrate that innovative, country-led solutions are not only feasible, but imperative.

Speaking at the conference, UNDP Rwanda Resident Representative Fatmata Lovetta Sesay delivered a sobering yet hopeful message. While acknowledging the formidable challenges ahead, she underscored the unprecedented opportunity for transformative change if nations are willing to act boldly and collaboratively. 

“While Biodiversity remains the foundation of our economies, health, and climate resilience, we are facing an unprecedented crisis, with over 1 million species at risk of extinction. Through BIOFIN, UNDP is working to close this gap by supporting countries to design and implement Biodiversity Finance Plans (BFPs) that align both public and private financing with national biodiversity objectives”.

She underscored the need for increased international support to assist governments in bridging the biodiversity financing gap and scaling up conservation efforts. For example, she mentioned that since its inception in 2012, the BIOFIN initiative has mobilized over USD 1.6 billion across 41 countries. She emphasized that this momentum must now be extended to the 91 additional countries that have recently joined the initiative.

Project financing

In an exclusive conversation, Dr. Benjamin Singer, Senior Biodiversity Specialist at the Global Environment Facility, reiterated that, despite the existing funding gap, dedicated financing mechanisms are in place to support high-impact projects that focus on conserving biodiversity. 

"We work with partners like the Rwanda Environment Management Authority to ensure that those with eligible projects can access the funds. We will be launching a new call for proposals between August and October this year, and we look forward to strong participation from Rwanda."

The Global Environment Facility (GEF) serves as a key global partner in financing biodiversity initiatives. Through its multilateral funding mechanisms, GEF channels critical resources to help countries tackle urgent environmental challenges, particularly those threatening biodiversity. Its support enables countries to confront complex environmental issues and make meaningful progress toward achieving global biodiversity and environmental goals.

Expert discussions also included dedicated sessions on Strategic Tools for Tailored National Finance Solutionshighlighting the pivotal role of National Biodiversity Strategies and Action Plans (NBSAPs) as foundational frameworks for aligning national conservation priorities with corresponding financing needs. By customizing finance solutions to reflect country-specific contexts, participants noted, nations can significantly improve the impact of biodiversity investments, ensuring they are both targeted and results-driven.

Rwanda’s efforts: pioneering solutions in a challenging landscape 

For Rwanda, leadership in this space was not merely symbolic. In her keynote address, the Minister of Environment, Dr. Valentine Uwamariya, emphasized the timeliness of the BIOFIN dialogue as countries move to operationalize the Kunming-Montreal Global Biodiversity Framework. She highlighted BIOFIN’s instrumental role in helping Rwanda identify viable financing solutions and mobilize resources to advance its national biodiversity goals.

Minister Uwamariya also highlighted Rwanda’s innovative approaches to environmental financing and restoration. She referenced IremboPay, a UNDP-supported digital platform that streamlines the collection of environmental fines and fees while directly channeling the funds into the Rwanda Green Fund (RGF). She also cited the transformation of the Nyandungu Wetland into an eco-park as a landmark achievement in urban ecological restoration, noting that plans are underway to rehabilitate five additional wetlands in Kigali, underscoring Rwanda’s strong and ongoing commitment to environmental stewardship.

“We are working toward mobilizing USD 500 million in alignment with Target 19 of our updated National Biodiversity Strategy and Action Plan, which calls for the mobilization of financial resources from all sources: public, private, national, and international. The implementation of biodiversity finance solutions must now accelerate, and it is essential that we engage a broader range of stakeholders, particularly the private sector and investors” the Minister said.

While Rwanda offers promising examples, the broader landscape across Africa and the Arab States remains deeply challenging. These regions host some of the planet’s most vital ecosystems, ranging from rainforests and coral reefs to deserts and mangroves. Yet, they continue to experience some of the most significant biodiversity financing gaps. These gaps are further compounded by competing development priorities, limited fiscal space, and slow policy reform.

As the conference concluded, one message resonated: nature cannot wait. The choices made today will definite the ecological legacy for further generations.  It is now time for Africa and the Arab States to lead, not follow, in advancing a future where both people and planet can thrive in harmony.

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Flora Kaitesi is a seasoned communication expert with over 15 years of experience, currently serving as a communication analyst at UNDP Rwanda!