Guyana’s Low Carbon Development Strategy Gets IDB Boost
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.