MNR pleased with continuing progress made between the Government of Guyana and Norway
-Norway’s release of $US50, remainder of the Guyana REDD+ Investment Fund pledge
The Ministry of Natural Resources is pleased to note the Kingdom of Norway’s agreement to disburse all final payments totaling approximately US$50 million, equivalent to the remainder of the Guyana REDD+ Investment Fund pledge made in 2009.
The agreement was met on the margins of the United National Climate Summit in New York between Minister of State Mrs. Dawn Hastings-Williams and Norway’s Minister for Climate and Environment, Mr. Ola Elvestuen on Monday.
Both Ministers agreed that in accordance with the bilateral agreement between the two countries, Guyana has met its commitments and therefore Norway would release the final payments. Minister Elvestuen emphasized that Norway is most impressed with Guyana’s continued low deforestation rates over the many years, and also with the substantive progress made on forest governance. Noting that Guyana showcases what sustainable development in forest rich countries can be.
The disbursement of the monies will be made to the Guyana REDD+ Investment Fund (GRIF) administered by the World Bank.
The Ministry of Natural Resources and the Guyana Forestry Commission are pleased with the continuing progress made between the Governments of Guyana and Norway and applauds the efforts of all stakeholders who have managed to ensure that Guyana’s forests are being preserved and developed sustainably for generations to come.