The first global biodiversity fund set up by a developing country for other developing countries has approved its latest round of projects. 

The Kunming Biodiversity Fund (KBF) signed off nine conservation projects worth roughly $4.5 million, Vice Minister of Ecology and Environment Dong Baotong said Monday.

Speaking at a briefing during the 17th meeting of the Conference of the Parties to the UN Convention on Biological Diversity (CBD) in Yerevan, Armenia, Dong said the projects span Armenia, Bangladesh, Benin, Cameroon, Cuba, Montenegro, North Macedonia, Somalia and Vietnam.

China has contributed 400 million yuan (about $60 million), and is calling on governments, businesses and civil society groups worldwide to contribute as well, he added.

The fund backs conservation models that can be copied and scaled up, pooling cash from multiple sources to fill gaps in conservation financing. It's already approved 31 projects across 45 developing countries – with another 40 in the pipeline, focused on restoring ecosystems, emergency protection for rare and endangered species, and other conservation work.

Astrid Schomaker, executive secretary of the CBD Secretariat, called it "an agile instrument" and thanked China for its leadership, saying the fund aligns with the Global Biodiversity Framework and helps hit its 2030 targets.

Inger Andersen, head of the UN Environment Programme, said the nine new projects are part of an estimated $21 million to be handed out by the end of 2026 – "much-needed finance for many countries."

Launched in May 2024, the KBF will stay the course of multilateralism and operate openly and transparently, Dong said, and hopes to bring more partners aboard to help turn these goals into reality.