The objective of the project is to design and institutionalize MERESE-BIO as an innovative financing mechanism for biodiversity conservation in the Peruvian Amazon, building upon Peru's successful Ecosystem Services Compensation Mechanism (MERESE). The project will develop a comprehensive framework that integrates voluntary conservation agreements with market-based instruments, implement strategic habitat bank pilots as proof-of-concept for the new mechanism, and design an external trust fund structure to ensure long-term financial sustainability. By establishing MERESE-BIO's institutional, technical, and financial architecture, the project aims to mobilize significant private and public resources for biodiversity conservation and restoration, reduce deforestation pressures, strengthen environmental governance, and create financial flows that benefit both ecosystems and communities, supporting Peru's contribution to global biodiversity targets.
Project Detail
Country
Peru
Project Number
PE-G1025
Approval Date
-
Project Status
Preparation
Project Type
Investment Grants
Sector
ENVIRONMENT AND NATURAL DISASTERS
Subsector
BIODIVERSITY AND PROTECTED AREAS CONSERVATION
Lending Instrument
-
Lending Instrument Code
-
Modality
-
Facility Type
-
Environmental and Social Impact Category (ESIC)
-
Total Cost
USD 2,000,000.00
Country Counterpart Financing
-
Original Amount Approved
USD 1,000,000.00