Guyana receives more funds from Norway under LCD project

Guyana will receive US$45 million from Norway for its climate services in maintaining extremely low levels of deforestation while advancing the nation’s landmark Low Carbon Development Strategy (LCDS).

A Government Information Agency (GINA) statement said this now brings all three contributions from the Norway-Guyana climate and forest partnership to a total of US$115 million since the programme was announced in 2009.

"This latest contribution from our partnership with Norway will help achieve the vision that we laid through our Low Carbon Development Strategy more than three years ago. Our vision is to create a strong and vibrant low-carbon economy that benefits our people, reduces pressures on our forests and provides valuable climate services to the world," said President Donald Ramotar.

"With this payment, Guyana can continue on this important path while showing the economic growth is compatible with sustainability. It is not only the people of Guyana who will benefit from this arrangement. It is also the countries around the world who can rest assured that our forests willc ontinue to trap carbon pollution and that our development won't come at the high price of deforestation," he added.

GINA said that “just as importantly, there are now clear signs that the monies are beginning to flow to important climate change and poverty alleviation investments that will improve the overall economy, support Amerindian peoples’ development and land rights while keeping carbon pollution well below the rates of leading developed countries,” GINA added.

It said the Norway funds, facilitated through the Guyana REDD+ Investment Fund (GRIF), are now beginning to flow to investments identified in Guyana’s Low Carbon Development Strategy, including the Amaila Falls Hydro Electric Project.

It said the project will deliver a steady source of renewable energy that is affordable, reliable and is envisioned to meet Guyana’s domestic energy needs while removing dependency on fossil fuels.

The government says the  Amaila project will save consumers and businesses approximately US$3.5 billion over the next 20 years, while at the same time reducing carbon emissions and creating jobs.

The project is being developed in partnership with Sithe Global, an internationally regarded power developer, the Inter-American Development Bank and the China Development Bank. The Amaila project is expected to begin generating power in 2017.

Other important initiatives being funded by the government through the GRIF include the Amerindian Land Titling Project, which will allow Amerindians to further secure their lands and natural resources, enabling long-term social and economic sustainable development.

The Amerindian Development Fund will enable almost 200 Amerindian villages to advance their Community Development Plans. In 2013, 27 Community Development Plans will start implementation.

GINA said when reviewed as a whole, the Guyana-Norway partnership represents the leading edge of efforts to protect forests while also supporting developing countries by offering economically attractive alternatives to deforestation and forest degradation.

It is specifically designed to serve as a model for how countries can work together to create low-carbon economic growth while contributing significant value to the health of the global environment.

"This is further confirmation that Guyana's valuable climate services are recognised internationally as an important contribution to helping prevent carbon pollution that leads to global warming," Ramotar said.

"It is also an important affirmation of our strategy to transition Guyana to a low-carbon economy, and in so doing, demonstrate to the world that small countries do big things, while improving the livelihoods of our people," he added.