The Baa Atoll Conservation Fund is a trust fund established under the Public Finance Act of the Republic of Maldives.
The Fund is governed by the Fund Board of Directors and the Fund Managing Director in accordance with the provisions of the founding documents, TOR and Rules of Procedure and other applicable laws and regulations of the Republic of Maldives.
The purpose of the Fund is to co-finance activities that ensure that Baa Atoll is a world class model of atoll ecosystem conservation in accordance with its designation as a UNESCO World Biosphere Reserve. The objectives of the Biosphere Reserve are:
Conserving and enhancing the natural beauty, biodiversity and cultural heritage of Baa Atoll
Promoting opportunities for the understanding and enjoyment of the special qualities of Baa atoll by local communities and visitors
Supporting the sustainable development of Baa Atoll, including fishing, tourism and the economic and social interests of those who live and work in the area.
The Fund’s reach is limited to Baa Atoll and is open to applications for funding support and will potentially support projects focused on the above, subject to the approval of an independent evaluation committee.
Priority will be given to all those projects who are in line with the priority Spending Areas of BACF which include Biosphere Reserve Management program, Biodiversity program, Livelihoods program and Education and Research programme.
For 2013 US$100,00 (Hundred Thousand United States Dollars) have been budgeted and application for grants in the form of projects will be open from June onwards.
BACF would like to announce that all applications received by 12 December 2013 will be reviewed and all applicants will receive a reply whether the application is succesful or not and the shsuccessful applicants will be requested to submit a deatil proposal based on the template provoded by BACF. .
It is envisaged that the Fund’s establishment will act as a catalyst to attract additional donations from third party sources to ensure the Fund’s annual contribution to the purpose the fund was created increases over time.