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The project aim was to generate information about the economic value of protected areas (PA) in the country. Under the study detailed valuation exercises in each of five pilot protected areas was undertake and the resulting information were extrapolated up to the entire national PA system in Montenegro. A cost-benefit analysis was prepared and both the valuation methodologies used in the study and the lessons learned were documented. The study was done as part of the UNDP-GEF-Government of Montenegro project “Catalyzing financial sustainability of protected areas in Montenegro’’ aimed to improve the financial sustainability of the national Protected Area System.
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