New Iwokrama Business Plan & Budget Approved

A new business plan and corresponding budget for 2004 to 2007 was approved at the 11th meeting of the International Board of Trustees in July. The Business Plan reflects Iwokrama’s recent transformation from a research and planning organisation to a business and action-oriented institution.

The plan, developed by the Centre from an internal work planning process, serves both for internal institutional organization and to introduce the Iwokrama International Centre to potential donors and business partners. The plan requests financial support for 2005 and 2006 of US$1,050,000.00 to fund priority projects. As presented, the plan will move Iwokrama substantially toward financial self sufficiency in 2007, and is the culmination of an institutional restructuring of Iwokrama that began with the March 2003 emergency business plan. The restructuring of Iwokrama has led to a reduction of annual operating costs from US$2.5 million to US$1.5 million and to much greater cost effectiveness and efficiency through better institutional management.

Commercialisation of timber harvesting is a top priority of the business plan since it is both relatively simple to initiate and has the capacity to generate revenues quickly. Harvesting will be based on "Reduced Impact Logging" techniques, and will use mobile sawmills to produce quality products. The operation will be run by enterprises located in the communities local to the Forest.

International ecotourism also has the potential to generate funds for Iwokrama. These funds will be secured by leasing out the rights to operate within Iwokrama. Tourism development will focus on high value, low volume visitation working within the context of the Rupununi and Guyana to deliver specific wildlife and nature-based products including the Giants of El Dorado (Jaguar, Black Caiman, Harpy Eagle, Giant Otter, and others), and over 35 key bird species that are relatively easy to see in the area.

There appears to be adequate scope for Iwokrama to meet its core costs from commercial activities within the next three years. Thereafter, further business opportunities can be developed with local communities and other local partners as the main actors, such as extending the existing work with aquarium fish, Arapaima, Crabwood Oil, and honey. Iwokrama has to ensure that all businesses meet the requirements of sustainable resource use, social equity and the wider environmental conservation aims described in the Iwokrama Act (.pdf).

The business plan will also play an important role in achieving conservation objectives by providing a basis for evaluating management effectiveness. The plan also effectively communicates Iwokrama’s financial status, objectives and activities to our stakeholders.

For more information and details about the Iwokrama 2004-2007 Business Plan, please contact Graham Watkins (gwatkins@iwokrama.org).