15 March 2013: The Inter-American Development Bank (IDB) has launched a Biodiversity and Ecosystems Services Program (BSE) to help Latin America and the Caribbean leverage its natural capital to protect the environment while promoting sustainable development.

The announcement took place on the occasion of the IDB Annual Meeting in Panama on 15 March. With the goal of identifying new biodiversity-friendly business and innovative South-South cooperation pathways, the program benefits from a multi-donor fund and has already provided $3 million in 2013 to finance grants, loan preparations, knowledge products and capacity building.

The BSE will support measures and projects that take into account the economic value of biodiversity and ecosystem services in key sectors, including agriculture, fisheries, forestry and tourism, all of which help drive gross domestic product and exports in the region.

The Presidential Agency for Cooperation (APC) of Colombia, as the first donor, has committed $700,000. [IDB Press Release] [APC Website]