2020 was the first year we fully operated as the Alliance of Bioversity International and CIAT. We invested valuable time designing and implementing new financial policies including for Reserves and Investments, ensuring efficient management to safeguard our assets. Additionally, in the Finance Unit, we decentralized and standardized several processes, and we implemented the majority of our actions included in our Finance Roadmap targeting Alliance’s objectives.
Despite the impact of the COVID-19 pandemic, the Alliance remained financially robust. We designed and implemented a Business Stability and Continuity plan that allowed us to make informed and timely decisions to mitigate any potential financial impact. Also, the significant participation of our colleagues in the Alliance was key to achieve a healthy financial position at the end of the year.
Our 2020 revenue totaled US$106.8 million, with USD 24.3 million to Bioversity International and USD 82.5 million for CIAT. At the end of the year, we were able to implement USD 104.4 million, where Bioversity International implemented 22.4% and CIAT 77.6%. As a result of the efforts, the Alliance ended the year with an operating surplus of US$2.4 million, including USD 0.84 million for Bioversity International and USD 1.56 million for CIAT.
We are truly grateful to our funders, investors, and partners for all the team efforts and their trust in the Alliance, including the Governments of Italy and Colombia – our main host countries – and CGIAR Trust Fund members.
Overall, the financial indicators of both Centers demonstrate a solid foundation on which the Alliance can implement its ambitious research-for-development strategy in a time of extraordinary change. The total reserves have increased with each entity exceeding the Alliance’s target of 120 days, 152 for Bioversity and 147 for CIAT.
We are looking forward to a healthier and encouraging 2021 in the Alliance, and we planned balanced budgets for a value of USD 135 million. In the coming year, we will increase our efforts to fully implement the current CGIAR Research Programs as they enter their final year of implementation. With our six research levers’ capacities, we will achieve our financial objectives, ensuring long-term financial sustainability in the Alliance.