Explanation:

BIOFIN is managed by the UNDP Ecosystems and Biodiversity Programme, in partnership with the European Union and the Governments of Germany and Switzerland, who support the initiative with a total of USD 15 million (as of May 2014 – further support is being sought). The Global Environment Facility is a further partner financing parallel in-country projects in support of the revision of National Biodiversity Strategies and Action Plans (NBSAPs).
BIOFIN aims to develop a methodology for quantifying the biodiversity finance gap at national level, for improving cost-effectiveness through mainstreaming of biodiversity into national development and sectoral planning, and for developing comprehensive national resource mobilising strategies. BIOFIN will thus provide a framework for undertaking 'bottom-up' analyses of the biodiversity finance gap and resource mobilization strategies, through a transformative process led by national stakeholder.
BIOFIN in India is led by the Ministry of Environment, Forest and Climate Change (MoEFCC). The initiative is hosted by the National Biodiversity Authority (NBA), working with four relevant State Biodiversity Boards, with technical assistance from Wildlife Institute of India (WII) and National Institute of Public Finance and Policy (NIPFP). UNDP India manages the programme under the guidance of MoEFCC. A Steering Committee with representatives of relevant ministries will oversee the programme and a Technical Advisory Group will provide technical guidance.