Protected Areas in the Mediterranean significantly contribute to sustaining the economy of the region. Covering around 300,000 Km2, they provide freshwater flows, resources for hydropower, recreation and tourism, fisheries, biodiversity, and other ecosystem services. Regional assessments have concluded that a major effort needs to be made to solve their state of chronic under-funding. The Murcia Conference on Protected Areas in the Mediterranean and the Vth World Parks Congress, identified a wide range of alternatives for generating revenues, emphasizing the need to develop innovative funding approaches such as debt swaps, endowment funds, and payment for ecosystem services; to improve development policies (e.g. by reforming subsidies); and to share costs and benefits through co-management and local participation. In this paper we review the degree of implementation of the recommendations for the Mediterranean, assessing the general financing needs and gaps, the main funding sources, and identifying the most important financing actions.