The National Strategy for Integrated Financing of Sustainable Development (SNFI-DD), finalised in February 2026, marks a decisive turning point for Madagascar. Under the leadership of the Ministry of Economy and Finance, with support from the UNDP, this national framework aims to move away from a fragmented approach to financing and establish a coherent, predictable system aligned with national priorities and the 2030 Agenda.
Governance and Accountability
Implementation is led by an inter-sectoral technical unit within the Ministry of Economy and Finance. It is based on a rigorous roadmap requiring absolute transparency, notably through the publication of mining and infrastructure contracts, in order to restore the confidence of international partners
The pillars of the strategy
The SNFI-DD relies on three major funding mechanisms to bridge the funding gap for the Sustainable Development Goals (SDGs):
1. Public funding : The aim is to increase the tax burden to 13% of GDP by 2028 (compared with around 10% currently) by broadening the tax base, digitising revenue collection and reducing ineffective exemptions.
2. Private financing : The strategy aims to catalyse domestic and foreign direct investment (FDI) through a more secure business environment, the strengthening of public-private partnerships (PPPs) and greater involvement of the diaspora.
3. Innovative financing : Madagascar plans to diversify its resources through blended finance, thematic bonds (green, social, blue) and carbon markets to capitalise on its exceptional natural capital.
Climate and Biodiversity: At the Heart of the Transformation
The integration of climate and biodiversity is identified as one of the most urgent cross-cutting priorities. The SNFI-DD now requires green budgeting to track environmental expenditure and mandates a climate vulnerability assessment for all major public investments. The aim is to transform conservation into sustainable economic opportunities for local communities
FAPBM: a strategic financial infrastructure for natural capital
In this regard, FAPBM is fully aligned with this approach. Through its trust fund model, it has been working for over 20 years to secure sustainable funding for the conservation of Madagascar’s protected areas and biodiversity.
As a trust fund dedicated to conservation, FAPBM’s actions concretely illustrate several principles championed by the SNFI-DD :
- Securing long-term funding for protected areas;
- Impact financing through the effectiveness of innovative mechanisms;
- Aligning conservation and development to generate concrete results in biodiversity protection.
Today, FAPBM is also committed to diversifying its funding sources, in line with the SNFI-DD’s ambition to improve the effectiveness and impact of every resource mobilised.
Thus, the SNFI-DD’s approach and that of FAPBM are aligned, with the Foundation translating national guidelines into concrete actions to preserve the country’s exceptional natural capital.
Towards the implementation of the SNFI-DD for natural capital
With the SNFI-DD, Madagascar is establishing an ambitious framework to rethink its financing model. In this context, institutions such as FAPBM play a key role in translating national guidelines into concrete actions on the ground. This complementarity is essential to meeting the shared challenge: effectively financing development whilst preserving the country’s natural capital.
In the medium term, it could evolve into a leading national platform for natural capital financing, particularly in the context of carbon markets, green bonds and international initiatives such as the Global Biodiversity Framework Fund (GBFF) or mechanisms linked to Article 6 of the Paris Agreement.
