A project in Panama to discover natural products of use to the pharmaceutical and agrochemical industries has become the first recipient of cash from the Nagoya Protocol Implementation Fund (NPIF).

The fund started operating last May to support projects in developing countries that implement the Nagoya Protocol’s framework for access to and sharing of the benefits of biodiversity. The protocol sets out how businesses can exploit countries’ genetic information – from plants, fungi or animals – and share revenues from any resulting new products.

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