The guidelines aim to facilitate public investment in biodiversity conservation and sustainable use, by formulating biodiversity specific requirements that need to be taken into account by public agencies when applying for funding (BIOFIN, 2015). In addition, the Ministry of Economy and Finance developed a set of Standards for Public Investment Projects in Biodiversity and Ecosystem Services to further elaborate the process of public investment in biodiversity (MEF, 2015b, BIOFIN, 2015). It is expected that an increased focus of public expenditure on PIP Verde will contribute to developing an environmental know-how within MEF and, subsequently, foster biodiversity-friendly public investment. The first PIP Verde to meet the guidelines was approved in San Martin, with a budget of PEN 46.5 million.