The Protected Areas Fund (PAF) was established as a specialized internal fund on October 5, 2004 by a decision of the National Trust EcoFund`s Board of Directors in accordance with the Statutes for operations of the National Trust EcoFund.
The Bulgarian Protected Areas Fund`s Strategy was molded with participation of all stakeholders: the Government of the Republic of Bulgaria, international donors in the Nature conservation sector, potential beneficiaries, such as protected areas administrations, municipalities, non-governmental organizations and other stakeholders. The financial and expert support for it was provided by the US Agency for International Development, the Government of the Swiss Confederation and the GEF through The Word Bank.
The Fund`s mission is to assist for the landscape, natural habitats and the biodiversity preservation in Bulgaria`s protected areas, in accordance with the national biodiversity conservation policy through sustainable financing to complement the budget funding provided by the Government and co-funding by donor projects focused on protected areas.
The Protected Areas Fund`s Strategy foresees that the funds raised might be managed in either of the following two ways:
As a Trust Fund wherein only revenues generated by investment of assets are used, therefore securing a ceaseless soured of funding for the Bulgaria`s protected areas.
As s sinking fund to receive and directly allocate donations for financing of protected areas projects.