A trust fund provides a long-term funding source to finance activities defined in the Implementation and Monitoring Plan. The trust is founded on perpetuity, independence, simplicity, flexibility and transparency. The founding partners serve as trustors, while the beneficiary is the country’s national protected areas.
- Public and private partners make compromises in revenues to ensure that all the actions planned are matching for five years with 100% of the funds required, including recurring revenues
- Independent, simple and flexible trusteeship with clearly defined reporting and transparency mechanism - Costs of the activities of the Execution and Monitoring Plan 2010 – 2015 represent the basis for the financial scenarios to determine the trusteeship’s amount and the basic outlines of its investment policy
- Government committed through budget compensation
The time invested in an initial stage of designing the three pillars (Execution Plan, Agreement and Trusteeship) was crucial to generate a technically applicable proposal on the financing necessary for the marine protected areas, to define a revenue target that is able to reach the conservation goals and to maintain them by establishing financial scenarios that allow to sustain investments and conservation targets for a long time.