News

Guyana’s Low Carbon Development Strategy Gets IDB Boost

By: Caribbean Journal Staff - February 4, 2012

Above: Kaieteur Falls in Guyana (Photo: GINA)

By the Caribbean Journal staff

The Board of Governors of the Inter-American Development Bank this week gave final approval for the execution of the Institutional Strengthening Project for Guyana’s Low-Carbon Development Strategy.

The approval means that a total of $5.94 million will now flow to Guyana for implementation, following an initial sum of $1.06 million released to the country from Norway for preparatory work.

Guyana’s REDD+ (Reducing Emissions from Deforestation and Forest Degradation) Investment Fund, dubbed GRIF, was established in October 2010 in order to fund projects of the country’s low-carbon strategy.

The project will strengthen the technical and administrative capacity of those institutions responsible for implanting the strategy, and develop an MRV (Monitoring, Reporting and Verification) system on a national level.

The partnership between Norway and Guyana is the second-biggest REDD+ partnership in the world, according to the Guyanese government.

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