EARTH SUMMIT+5 Special Session of the General Assembly to Review and Appraise the Implementation of Agenda 21 New York, 23-27 June 1997 SUCCESS STORIES FROM THE PHILIPPINES

	The Foundation for the Philippine Environment
	Location	Quezon City, the Philippines.
	Responsible organization	The Foundation's Board of Directors comprised of 11 representatives of NGOs, business, academia, civil society and the Government.
	Description	The Foundation was established by the initial endowment of US$22 million and managed by the Board of Directors comprised of representatives from the wide range of areas to promote the sustainable management of natural resources and the preservation of biological diversity in the country. The Foundation has already given 157 grants, amounting to US$3.5 million for 1992-1995 to support various community-driven activities for conservation and sustainable management of natural resources and biodiversity.
	Issues addressed	Sustainable management and conservation of natural resources and biodiversity
	Objectives	To promote sustainable management and conservation of natural resources and biodiversity in the country through strengthening research, policy development, and the capacity by NGOs and community based organizations.
	Results achieved	Enhanced research, policy development and implementation capacity of research institutes, NGOs and community based organizations for sustainable management and conservation of natural resources and biodiversity.
	Lessons learned	The National Environmental Fund, in which a wide range of stakeholders are represented through its managing board, has financed community-based effective projects and programmes aimed at sustainable management and conservation of natural resources and biodiversity. The accountability of the Foundation is maintained by appropriate auditing mechanisms.
	Financing	Initial endowment was generated by a debt-for-nature swap between the Government of the Philippines, an international aid agency, and an international commercial bank. The Foundation's capital is invested in Philippines Government bonds which yield interest.
	Contact	Mr. Delfin Ganapin, Jr. Executive Director, Foundation for the Philippines Environment, No.14 Vigan Road, Philamlife Homes, Quezon City 1104, Philippines Tel 63-2-96-96-29, Fax 63-2-98-21-86