Nairobi: The Global Environment Facility (GEF), the world’s oldest multilateral climate fund, is preparing to scale up its wildlife conservation bond program across all 54 African nations in an ambitious $1.5 billion plan to safeguard endangered species and ecosystems.
Speaking at a meeting of African environment ministers in Nairobi, Fred Boltz, GEF’s head of programming, said the fund aims to issue wildlife bonds tailored to the unique biodiversity challenges of each African country.
The initiative builds on the success of previous conservation bonds, such as the World Bank-backed rhino bond launched in 2022, a chimpanzee protection bond in Rwanda, and a lemur conservation bond recently approved for Madagascar.
Wildlife bonds offer low-cost financing that is directly tied to conservation performance. Unlike traditional loans, these instruments reward results: the more successful the conservation efforts, the less governments typically have to repay.
Crucially, the debt does not appear on the books of beneficiary governments, making it an attractive option for low-income nations seeking sustainable financing.
Speaking at #AMCEN20, Fred Boltz, Head of Programming @theGEF emphasized the fund’s longstanding partnership w/ African leadership in advancing environmental progress & biodiversity efforts. GEF remains committed to ongoing reforms for #GEF9 to enhance efficiency and impact. pic.twitter.com/lYNfqwNDAu
— Global Environment Facility (GEF) (@theGEF) July 16, 2025
“These bonds target iconic species to attract investors and philanthropists, but we now want to expand the model to entire ecosystems, including wetlands,” Boltz said. He added that the GEF plans to commit $150 million in seed funding, which will be leveraged tenfold to generate the full $1.5 billion in conservation financing.
The initiative comes as global aid flows to environmental projects face increasing pressure. Major donors like the United States have scaled back official development assistance (ODA), prompting GEF to innovate in its approach to financing biodiversity protection. “Many countries are raising concerns about how to preserve their remaining species in the face of shrinking international support,” Boltz said.
Since its inception following the 1992 Rio Earth Summit, GEF has invested $7.7 billion in Africa, including an $85 million project to combat desertification in the Sahel. It is currently calling on global donors to replenish its resources for the next four-year funding cycle, starting in 2026. Its most recent fundraising effort raised $5.3 billion from 29 countries.
