Global Biodiversity Alliance creates platform to advance biodiversity financing – IDB Country Rep

With the momentum building on the Global Biodiversity Alliance (GBA), Country Representative of the Inter-American Development Bank (IDB) Group, Lorena Solórzano Salazar, has said that the upcoming two-day conference in Guyana provides an important opportunity for stakeholders to work together to close the financing gap for the world’s critical natural assets.

Later this week, more than 140 stakeholders from around the world will be in Georgetown for the second GBA Conference. Held from October 30-31 under the theme “Investing in Nature: Accelerating Biodiversity Finance for Sustainable Development,” the conference will bring together political leaders, Governments, financial institutions, development partners, private sector actors, researchers, civil society, and communities.

According to the IDB Representative, “The momentum is there. Now that we need to convert the momentum into action, into investment, and into results. [The] main signal, I would say, for the GBA is the appetite for biodiversity and finance.”

President Dr Irfaan Ali launched the Alliance in July 2025 with 17 founding members, spanning Governments, civil society, indigenous peoples, local organisations and private entities. Over the past 15 months, the coalition’s membership has climbed to over 140.

During an appearance on a special edition of the Starting Point podcast, Salazar posited that this increase in membership reflects a growing recognition around the world that the protection of biodiversity resources is not only an environmental responsibility but also aligns with development, economic and financial priorities.

Pointing out that in countries such as in the Latin America and the Caribbean (LAC) region, natural assets sustain millions of livelihoods, support incomes generating spaces, and economic activities, among others, the IDB official underscored the need for stakeholders to work together to bridge the financing gap for biodiversity resources.

“[The] financing gap in this space is big. There is no single institution that can close that gap, and we need to collaborate to address this… There is no single financial instrument that will cover the biodiversity or solve the challenges. What we need is an enabling environment – an enabling environment in which public policy, development finance, private capital, and innovation can come together as providers toward the solution,” she stated.

According to Salazar, this is where the IDB comes in, working with the private and public sectors to find solutions to a new market mechanism to support biodiversity conservation. However, she reiterated the importance of having the right conditions to enable such collaborations.

“So, the real opportunity, I will say, is not simply to find more money for biodiversity. It’s to create the environment and the conditions for different source of financial instruments that can support the country’s biodiversity and the development priorities at a scale,” she emphasised.

Recognising that Guyana is a compelling example of connecting environmental stewardship with development, Salazar went onto outline that the IDB has been supporting the country in these efforts over the years.

From working together on developing a forest monitoring and reporting framework under the REDD+ mechanism that resulted in the 2009 US$250 million deal with Norward to the US$83.3 million Guyana Utility Scale Solar Photovoltaic Programme (GUYSOL) through which eight solar farms are currently being built out across the country with several already completed.

In addition to public projects, the IDB has also being collaborating with the local private sector to advance sustainable initiatives in Guyana. Through the IDB Lab – the innovation and venture arm of the financing group, work is ongoing with the Barima-Mora Mangrove Conservation to not only preserve mangroves but also livelihoods with the wiri-wiri pepper project.

“So, I would say that for Guyana, the opportunity goes beyond financing individual projects. It’s about strengthening the information, the institutions, and then the financing that can connect the country’s natural capital with long-term developments…”

“GBA brings countries and brings institutions to the table so no one is working isolated. That is relevant; [to] share knowledge, share data, share the experience and the different alternatives to keep the forest standing, keep the biodiversity and the ecosystem healthy while creating jobs and while creating wealth and growth… If we don’t act together, we will continue losing the nature. And then, to recover the nature is going to be more cost… Protecting biodiversity is not about choosing nature over development. It is about investing in nature assets that make lasting development possible,” the IDB Representative posited.