GEORGETOWN, Guyana, May 8, 2015 /PRNewswire-USNewswire/ -- The Government of Guyana this morning announced the receipt of US$40 million from the Government of Norway for maintaining low deforestation rates and improving forest governance. With receipt of the fifth consecutive payment over five years, Guyana's earnings through the Guyana-Norway partnership now total $190 million out of a potential US$250 million. Guyana's earnings amount to one of the highest worldwide for results achieved under a bilateral REDD+ partnership, second only to Brazil.
Since 2009, the payments have supported Guyana’s ambitious climate action to keep deforestation low while promoting development and economic growth through its Low Carbon Development Strategy (LCDS). Guyana is already using the funds on a variety of projects, including land titling and sustainable livelihoods for indigenous communities and a transformational hydroelectric project at Amaila Falls. The recent payment will allow for increasing internet access in hinterland communities and strengthening critical adaptation infrastructure against coastal flooding and droughts.
"Guyana is committed not only to maintaining low deforestation rates but also to building capacity to effectively manage its resources. We have worked to ensure that everyone has a say in how we manage these resources, and that everyone benefits from the unique development path we set out on six years ago," said President Donald Ramotar
To this aim, provisions have been established for Amerindian communities to "opt-in" to REDD+ payments for protecting their forests. The government has also promoted transparency in the natural resources sector with its application for candidacy for the Extractive Industries Transparency Initiative (EITI).
Guyana's rate of deforestation has declined by 14 percent from 2012 levels. At a deforestation rate of just 0.068 percent, verified by a best-in-class monitoring, reporting and verification (MRV) system, Guyana's deforestation rate is less than 15 percent of the average for all tropical countries, and remains one of the lowest worldwide.
Guyana and Norway advocate REDD+ to be included in a binding climate agreement under the United Framework Convention on Climate Change (UNFCCC) to be agreed in Paris this December and come into effect in 2020. In addition, both countries signed the New York Declaration on Forests.
Guyana and Norway are now discussing the possibility of a renewed partnership for the period from 2015-2020.
SOURCE Government of Guyana