Govt. to receive another US$40M from LCD funds

Feb 27, 2012 News

Guyana is due for another payment of US $40M from the Norwegian Government for the funds generated from the LCDS. US $70M has already been released thus far, according to Minister of Natural Resources and Environment, Robert Persaud.
Persaud disclosed this at a recent visit to Port Kaituma, Region One where he met with representatives of the Guyana Geology and Mines Commission (GGMC), Guyana Forestry Commission (GFC), Guyana Lands and Survey Commission (GLSC) and Regional officials.
Last month, sixteen North Rupununi villages signed up to help the country push to receive monies for preserving its state forests.
The Community Monitoring, Reporting and Verification (C-MRV) Project was launched in that Region Nine area.
Monitoring, Reporting and Verification (MRV) is a key component of Guyana’s Readiness Preparation Proposal (RPP) to the World Bank’s Forest Carbon Partnership Facility (FCPF) and it was done so that Government could have presented to the international community the information that showed Guyana as having stuck to its commitment of being among the leading countries that promote sustainable development.
The C-MRV, according to a government statement, caters for the development of a community-based system to monitor the forest, land use, ecosystem services and wellbeing of the residents. It also provides support to the country’s national MRV system, creating a methodology to monitor impacts of future benefits to communities and Guyana and working with other groups in the Amazon to develop a standardized system for rest of the world.
Minister Persaud said that the LCDS is a vehicle for moving Guyana forward, and the continual support from the North Rupununi District Development Board (NRDDB) in this regard is surely a step in the right direction for Guyana to implement the Strategy.
He also had disclosed that an agreement was signed with the Norwegian Government that will see Guyana receiving over US$250M for ecological services.
In order to receive the payments, he said several requirements and ‘benchmarks’ had to be fulfilled and saw the launch of a National MRV system at a cost of over US$1M.
This C-MRV initiative, Persaud said, is timely since it will support the national system at the community level and for this reason, Government was eager and supportive to have this project launched so that it can contribute to the good of the community and the country at large.
The C-MRV project, which was launched under the theme “Think Globally, Act Locally,” will see communities working with several local and international partners, including the Global Canopy Programme, Iwokrama, the NRDDB, the Guyana Forestry Commission (GFC) and the Norwegian Agency for Development Cooperation (NORAD).

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Govt. to receive another US$40M from LCD funds

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