BIOFIN was launched in India in 2015, led by the Ministry of Environment, Forest and Climate (MoEFCC), Government of India (GoI). The National Biodiversity Authority (NBA) is designed as the host and technical agency to support implementation, working closely with the State Biodiversity Board (SBB) & United Nations Development Programme (UNDP).
The main object is to support the Government towards developing a framework that provides innovative steps to measure current biodiversity expenditures, assess financial needs and to create a Biodiversity Finance Plan (including most suitable finance solutions for the country) to implement the National Biodiversity Action Plan (NBAP) and to achieve the associated National Biodiversity Targets (NBTs), and the Sustainable Development Goals (SDGs).