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Single largest chunk of money spent on managing forest

Nov 12, 2021 News

Guyana-Norway US$250M agreement…

Kaieteur News – Since the signing of the US$250 million Guyana-Norway agreement in 2009, three of those projects are still ongoing and the chunk of the monies was spent on the management of the forest.
The aforementioned were highlighted in the People’s Progressive Party/ Civic (PPP/C) administration Low Carbon Development Strategy (LCDS) 2030 draft.
A table in the draft, which summarises Guyana’s earnings plus associated investment income, illustrated that out of the 12 projects under the Guyana-Norway agreement, eight are completed, three are ongoing and one is still to commence.
The total sum of US$166,400,000 was allocated for the 12 projects, and the sum of US$50,400,000 was already expended. Out of the total sum spent the single largest chunk of US$12, 600, 000, was spent on Transforming Forest Management – Monitoring, Reporting, Verification (MRV) System.
The projects that were completed are: Micro and Small Enterprise Development; Amerindian Development Fund – Phases I and II; Institutional Strengthening; Cunha Canal Rehabilitation; Climate Resilience Strategy and Action Plan; Support for EU-FLEGT Implementation; LCDS Communication and Outreach and Transforming Forest Management – MRV System.
The following are ongoing: Amerindian Land Titling, ICT Access and e-Services for Hinterland, Poor, and Remote Communities and Sustainable Land Use Development and Management, while the largest project, Solar Power across various Regions is still to commence.
According to the LDCS 2030 draft, at that time the Guyana-Norway partnership was the second largest Interim REDD+ arrangement in the world, and for the period 2009 to 2015, Guyana received a total of US$212.52 million dollars in payments to be invested in the LCDS.
It was also noted that the programme has been and continues to be an overall success. It was further disclosed, however, that a few areas impacting its effectiveness include the slow pace of intermediation for transfer of resources, mixed successes working with partner entities, and slow pace in some cases of national implementation bodies.

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