Conservation of biological diversity is one of themain elements of sustainable development, given thatbiodiversity is the basis of life on earth. Thecurrent and potential role of protected areas inbiodiversity conservation cannot be overemphasized.In addition to biodiversity conservation, protectedareas provide goods and services that are categorizedinto direct benefits, indirect benefits andintermediated use services (such as tourism,recreation and ecosystem services). However,biodiversity is disappearing at alarming rate andthis is a threat to species? survival on the planet.However, protected areas in general are notadequately funded regardless of their uniquecontribution to nature conservation. As a resultthere is an urgent and serious need for thedevelopment of innovative, diverse and sustainablefinancing mechanisms for protected areas in manycountries of the world.