The
Bhutan Trust Fund for Environmental Conservation (BTFEC) is the world’s
first environmental trust fund, established in 1991 as a collaborative venture
between the Royal Government of Bhutan, and bilateral/multilateral partners. An endowment of US$20 million was set as target
for an innovative mechanism for sustainablefinancing
of conservation programs in Bhutan. Donors to the trust fund include the
World Wildlife Fund, Global Environment Facility, the governments of
Bhutan, Denmark, Finland, the Netherlands, Norway and Switzerland.
BTFECwas
granted the Royal Charter in 1996 which was updated in 2021
“keeping the present needs and ensure relevance and role of BTF to meet the
future challenges”
The BTF
management is governed by a high-level Board of Trustees, while
the day-to-day business is conducted through a small
Secretariat. Today, it is an effective conservation grantmaking
organisation, autonomous of the government with the endowment fund
reaching US$75 million as of June 2023. Since
inception, BTF has awarded more than 239 projects amounting to over US$25
million. Projects are granted through Request for Proposals process with an
overall budget of US$1.5 to 2 million annually.
BTF has improved
substantially in terms of its governance, grant-making, investment and
financial management, and monitoring & evaluation practices. With further strengthening
in its human resources, BTF’s program management and business operation has
developed considerably over the years.