IDB to help Guyana’s readiness to access forest carbon money
The World Bank has approved Guyana’s request for the Inter American Development Bank (IDB) to perform the services as delivery partner for Guyana’s participation in the Forest Carbon Partnership Facility (FCPF) which focal point is the Guyana Forestry Commission.
This request for piloting the Multiple Delivery Partners’ Initiative for the coordination of the FCPF framework, and guidelines for the Formulation and the Readiness Grants, was in keeping with Resolution PC 7/2010/4 of the seventh Participants Committee meeting of the FCPF held in Washington D.C.
In Guyana’s proposal to have the IDB as delivery partner, it was noted that the in-country resources of the IDB office will support the range of technical and administrative requirements for Guyana’s FCPF implementation. Guyana also noted that with the IDB as the Delivery Partner for the Guyana REDD+ Investment Fund, there will be opportunities for synergies in technical and administrative oversight, as well as implementation.
As part of this process, several preparatory steps led by the Facility Management Team of the FCPF are currently being executed, including discussion on approaches to activity implementation on matters relating to safeguards, logistical details and other relevant issues.
Minister Robert Persaud, with responsibility for Forestry, yesterday met Eirivelthon Lima – Senior Natural Resources Specialist, IDB Washington to advance discussion on the FCPF. Along with IDB Guyana Office representatives, representatives of IDB Washington are currently in Guyana to engage in dialogue on Guyana’s Readiness Preparation proposal, and to discuss other related projects.
Guyana has already done extensive work in preparing its Readiness Preparation Proposal for the FCPF, and will continue this work with the IDB with the aim of smooth implementation. Minister Persaud in his meeting with the IDB Mission called on the IDB to ensure timely and effective implementation of the FCPF.
The Forest Carbon Partnership Facility (FCPF) is a window under the World Bank to enable countries to be prepared to access financing under this and other forest carbon financing mechanism.
It came about as a result of the international debate and dialogue on climate change. The first step under the process was the preparation and submission of a Readiness Plan Idea Note (RPIN).
Guyana’s RPIN was approved in June 2008. Guyana then began work on the next phase which was Readiness Preparation Plan (RPP). Guyana was one of the first countries to submit and got approval for its RPP. Several revisions were done to the RPP to incorporate stakeholder’s comments.
The Readiness Preparation Plan was subsequently changed to Readiness Preparation Proposal which under went further multiple revisions. There have been several revisions to the RPP. Preparation activities under this process are geared towards sustainable forest management, conservation and enhancement of forest carbon stocks.