Based on the positive recommendations of the studies conducted in 2001 and 2003 in the WAP complex, the Government of Benin and some of its partners are therefore firmly committed to a process of creating and capitalizing a private entity that will be responsible for the management of a trust fund aimed at generating sustainable income streams for the protection and management of the country's savannah ecosystems, in addition to other more variable sources of financing from the State budget, from the sport hunting and tourism. The main characteristics of the proposed trust fund were defined through a broad participatory process involving all stakeholders. The Government of Benin and some partners have already made commitments to provide financial support to the fund. It is proposed that the fund initially focus on financing activities in savannah ecosystems in northern Benin. In addition, in the long term, it could be intended to provide financial support for the conservation and sustainable management of the entire WAP since the integrated transboundary management of the latter is essential to ensure the conservation of biodiversity there in the long term. It is therefore currently proposed to call this fund “West African Savannah Foundation”, hereinafter “SOA Foundation”.

Within this general context, the objectives of this report are as follows:

• Document the steps in the process of creating the SOA Foundation until March 31, 2010;
• Present the key elements of the feasibility and relevance/rationale for creating the SOA Foundation, including how it could serve as a flexible framework for a sustainable financing mechanism that benefits the entire WAP;
• Present an update of the “Profile” of the SOA Foundation, i.e. the main characteristics (objectives, legal structure, management structure, financial structure, funding sources, investment principles) that will guide its creation and operationalization;
• Present an Action Plan for its creation and operationalization, including its initial capitalization, according to international standards.