Colombia creates biodiversity fund aiming to manage nearly $1 billion

FILE PHOTO: An aerial view of the Amazon river, before the signing of a document by Colombia's President Juan Manuel Santos that will allow for the conservation of the Tarapoto wetland complex in Amazonas, Colombia January 18, 2018. REUTERS/Jaime Saldarriaga/File Photo

BOGOTA (Reuters) - Colombia's government has launched a new Fund for Life and Biodiversity to help protect ecosystems in the country, the environment ministry said on Thursday, adding that it will manage close to $1 billion by 2026.

The financial mechanism will allow environmental initiatives to receive monetary resources more than once, the ministry said in a statement, adding that the fund will be managed by a trust that will oversee greater efficiency in distributing resources.