The conservation community has committed technical and financial assistance to low- and middle-income country (LMIC) governments to support the management costs associated with protected areas (PAs) as a means of conserving high biodiversity areas over the last few decades. Given other priorities, LMIC generally tend to have little capacity and weak governance for PAs, making external support imperative for conservation. In the past, funds provided to PAs have failed to provide long-term sustainable conservation outcomes, due to a focus on short-term finance for capital investment, with limited support for sustaining PA structures and institutions. Consequently, the conservation community has been…