Project summary:

Ukraine covers just 6% of Europe's land area yet is home to around 35% of its biodiversity, including more than 70,000 species and unique forest, wetland, steppe, freshwater, marine and mountain ecosystems. Today, this natural heritage is under unprecedented pressure. The ongoing war has damaged more than 30% of Ukraine's protected areas, while wartime expenditures and recovery needs have significantly reduced the resources available for biodiversity conservation. 

To help address these challenges, the United Nations Development Programme (UNDP), together with the Ministry of Economy and Environment of Ukraine and with financial support from the Government of Germany, launched the Biodiversity Finance Initiative (BIOFIN) in Ukraine. 

As part of the global BIOFIN network spanning more than 130 countries, the programme will help the Government of Ukraine identify, mobilize and invest the financial resources needed to protect biodiversity while supporting sustainable economic development, green recovery and Ukraine's accession to the European Union. In Ukraine, BIOFIN will also support the implementation of the recently adopted National Biodiversity Strategy and Action Plan (NBSAP) 2035, aligned with the Kunming-Montreal Global Biodiversity Framework.

The programme is assessing Ukraine's biodiversity financing needs, reviewing existing policies and expenditures, and developing the country's first Biodiversity Finance Plan, a practical roadmap for mobilizing public and private investment in nature.

Alongside this analytical work, BIOFIN is already developing and piloting practical finance solutions. The first solution focuses on strengthening the financial sustainability of protected areas by modernizing revenue-generation mechanisms, improving business planning and investment readiness, and enabling protected areas to retain and reinvest more of the revenues they generate. 

By combining policy reform with practical implementation, BIOFIN will help unlock new investment in nature, strengthen the resilience of protected areas, and demonstrate that protecting biodiversity is an essential part of Ukraine's sustainable recovery and future prosperity.