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Protected Areas Conservation Trust (PACT) renews long-standing agreement with the Belize Nature Conservation Foundation (BNCF) for management of Debt For Nature Swap Fund

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Posted: Friday, January 7, 2022. 2:16 pm CST.

Photo Credit: PACT

By Rubén Morales Iglesias: The Protected Areas Conservation Trust (PACT) announced that on December 28, 2021, it renewed its long-standing agreement with the Belize Nature Conservation Foundation (BNCF) for the management of the endowment and operational Funds of the BNCF.

The BNCF is charged with the management of Belize’s Debt For Nature Swap Fund.

According to a statement by PACT, the BNCF is an independently governed, private foundation, that was created through Belize’s first Debt for Nature Swap in 2001 between the Governments of Belize and the United States of America.

“The Foundation, whose primary purpose is to support conservation and management of Belize’s natural resources, has an endowment fund and an operational fund through which it finances a small grants program for terrestrial protected areas,” said the PACT statement.

Through a management agreement, PACT provides fiduciary and grant management services to the Foundation as directed by the BNCF Board of Directors.

“Since the start of the Foundation’s operations in 2007, the PACT has administered an average of $3 million annually on behalf of the Foundation,” said the PACT statement.

This PACT partnership with the BNCF is only one of several partnerships that PACT has as part of its fiduciary management portfolio.

“PACT administers millions of dollars from external sources for projects and programs related to protected areas, conservation and biodiversity in Belize, and which are executed by government agencies, non-governmental agencies, and civil society organizations,” said the statement.

“These partnerships allow donors such as international foundations and international financing institutions to avail themselves of the PACT’s well-established capacity and track record in effective management of funds and projects while serving as a source of additional income for the PACT in the form of service fees.”

PACT assists conservation organizations like the Monkey Bay Wildlife Sanctuary and the Community Baboon Sanctuary.

 

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