Last week, the German Federal Ministry of Economic Cooperation and Development (BMZ), through the German Development Bank (KfW) contributed €6.8 million to the Caucasus Nature Fund (CNF). Signing the contracts on November 27th, Geof Giacomini, CNF’s Executive Director stated, “BMZ, through KfW has been not only a supporter of CNF but a leader in financing sustainable solutions to the problems of biodiversity loss and economic development in the South Caucasus.”
The signing ceremony, which took place at KfW’s headquarters in Frankfurt was attended by CNF’s Board of Directors, who had just finished their annual meeting earlier that day. David Morrison, Chairman of CNF’s board, noted, “Germany has long been a leader in supporting conservation trust funds worldwide and we are extremely grateful for their support of CNF. The governments of Armenia, Azerbaijan, and Georgia are attempting to improve the management effectiveness at their precious national parks and Protected Areas, and CNF is a sustainable financing mechanism which allows them to do just that.”
Prior to the signing ceremony Olaf Zymelka, KfW’s Director for Eastern Europe, Caucasus, and Central Asia hosted CNF’s board and guests for a lunch at which issues of conservation in general, and CNF’s program specifically, were discussed.
As one of CNF’s founders, BMZ (through KfW) has contributed €27.3 million to CNF’s endowment since 2008, and nearly €40 million considering its support of a Sinking Fund which allows CNF to grow its capital and increase its programming simultaneously.