Best Practices meeting with representatives of the institutions that manage Protecetd Areas in the Prespa-Ohrid Region, Photo: PONT
PPNEA opens local office in Goricë e Vogël, Photo: PPNEA
With additional sinking fund contributions of €37 million from the German Federal Ministry of Economic Cooperation and Development (BMZ), the total capital input for PONT amounts to €79.6 million. PONT is extremely grateful for the additional contributions and the unwavering commitment of our founding donors to our mission and its future success: MAVA Foundation and the KfW Development Bank (KfW) – mandated by BMZ.
With the funding split between permanent capital committed to our endowment and a portion in the form of “sinking funds” (which must be spent by a certain date), these commitments provide us with a solid financial base for the coming years.
Earnings on the investment of the KfW/BMZ endowment contribution and sinking fund, and the entire principal of the sinking fund, are dedicated primarily to support PONT’s grant programme for protected areas and environmental actors, such as protected areas and NGOs working in the PONT focus region located in Albania and North Macedonia. The latest sinking fund contribution of €20 million is to be exclusively allocated as grants for additional protected areas in Albania (Korab Koritnik Nature Park and the recently declared Albanian Alps National Park, including the previously declared Lumi i Gashit Strict Nature Reserve, Lugina e Valbonës National Park, and Thethi National Park) and connecting transboundary areas in North Macedonia (Mavrovo National Park and Shar Mountain National Park). Important conservation actions supported by NGOs in the protected areas and ecological corridors between the protected areas, are also eligible for co-financing by PONT. A smaller portion may also be used to cover PONT operating expenses.
The MAVA sinking fund (including investment earnings thereon) is actively used to support PONT’s grant programme in favour of the Greek NGO Society for the Protection of Prespa (SPP). The investment earnings on MAVA’s endowment can be used for any purpose that supports our mission.
Earnings on the investment of the endowment provided by a donor who wants to remain anonymous are used to support the work related to the conservation of species and their habitats in the PONT focus region.
The donation by the Sigrid Rausing Trust is used to finance the local NGOs working in the Wider Ohrid Area located in Albania and North Macedonia. A portion may also be used to cover PONT operating expenses.
The ‘Fundraising Grant’ donation by MAVA is actively used for the development and implementation of our Fundraising strategy.
Elaine Chen and Charlotte Walter’s creative adventure into raising awareness of at-risk species and their campaign #OurVulnerableEarth2021 came to an end on Earth Day 2021. The money raised through the auction of the Prespa trout painting was donated to PONT to support the grant to the Balkan Foundation for Sustainable Development for developing a Conservation Action Plan for the endemic Prespa trout. In addition, we received some donations from individuals.
From 2021 we started to keep a risk register which is updated two times per year. With the additional sinking fund contributions from KfW/BMZ we secured long-term financing stability for the coming decade. This will help us in maintaining our endowment capital and to continue providing the support to the protected areas and environmental actors. We are increasing our staff component while improving procedures and workflows to continue adhering to due diligence requirements of our growing grant programme and investment portfolio. The development and implementation of the PONT Environmental Social Management System will help us to minimize any reputational risk or negative social impact caused by PONT.
PONT grants require co-financing of at least 50% of eligible costs for protected area grants and for grants for state-financed environmental actors. Grants for NGOs require at least 25%. Eligible sources of co-financing are government funding; own contribution by beneficiaries; and the financial contribution by other projects (other than BMZ from 2022 onwards). We acknowledge and are grateful for the sources of co-financing by our cooperation partners for our ongoing grants.
Prespa Ohrid Nature Trust (PONT)
Abdi Toptani Str.,
Torre Drin Tower nr. 35,
Tirana | Albania