LCDS institutional strengthening project gets final IDB board approval - funding balance of US $ 5.94 M being released from GRIF
Georgetown, GINA, Saturday, February 4, 2012
Source - GINA
The Board of Governors of the Inter-American Development Bank (IDB) gave final approval on Wednesday February 1 for the execution of the Institutional Strengthening Project for Guyana’s Low Carbon Development Strategy. The approval paves the way for all remaining funds totaling US$ 5.94 million to flow directly to Guyana from the GRIF for full implementation. An initial sum of US 1.06 million dollars of the total US $7 million project cost was released directly to Guyana from Norway last year for preparatory work to be undertaken.
The project, which gained the approval of the GRIF Steering Committee on November 2nd 2011 will mark the first in a series of LCDS projects submitted to the GRIF, to receive approval from the IDB which is serving as one of the partner entities to the GRIF.
The Guyana REDD+ (Reducing Emissions from Deforestation and Forest Degradation) Investment Fund –GRIF, was established in October 2010 as the mechanism through which LCDS projects will be funded.
The LCDS Institutional Strengthening Project is aimed at enhancing national institutional capacity in Guyana to address the impacts of Climate Change, ensure the effective implementation of the LCDS, and meet its commitments under interim REDD+ partnerships. These commitments include avoided deforestation measures that translate into the avoidance of CO2 emissions.
Specifically, the project will strengthen the technical and administrative capacity of the principal institutions responsible for implementing Guyana’s Low Carbon Development Strategy and develop and implement a MRV (Monitoring, Reporting and Verification) system on a national level.
The Government of Guyana has identified the need to strengthen the capacity of three key institutions, namely: the Office of Climate Change (OCC), the Project Management Office (PMO) and the Guyana Forestry Commission (GFC).
The first component will see the design and implementation of a MRV system and the requisite strengthening of national institutional capacities of the GFC for implementing REDD+ activities, and in particular for implementing the MRV system. This component has a total implementation cost of US3.66 million dollars.
The second component will cater to the capacity strengthening of LCDS Institutions namely, the OCC, the PMO and the REDD+ Secretariat. In addition, the institutional diagnostic of the Guyana Environmental Protection Agency-EPA and the Guyana Geology and Mines Commission-GGMC will be financed. The total implementation cost is set at US 3.28 million dollars.
The project being executed by the Office of the President through the OCC, and the GFC, has already seen the laying of groundwork with the development of institutional structures and a post 2012 roadmap for the PMO and the commencement of the recruitment process for new required technical positions within the OCC. Meanwhile, implementation of component 1- the design and implementation of a MRV system, has begun through the GFC. This advance work was made possible through initial project funds totalling US $1.06 million released bilaterally by the Government of Norway to its Guyanese counterpart.
The LCDS and the Guyana-Norway partnership, is the second biggest Interim REDD+ agreement in the world. Since 2009, the two countries have been working to devise a global model for aligning low carbon development with the global fight against climate change. Reporting and independent assessment of Guyana’s performance for 2011 in accordance with the agreed requirements of the Joint Concept Note (JCN) and Memorandum of Understanding between Guyana and Norway will be carried out in the coming months. The level of support depends on Guyana’s delivery of results as measured against two sets of indicators (1) performance against a set of REDD+ Enabling Activities and (2) REDD+ Performance Indicators.
To date Guyana has successfully met the performance requirements for two consecutive years, earning approximately U.S$70 Million which has been transferred by Norway into the Guyana REDD+ Investment Fund (GRIF) and which will be used to support LCDS Initiatives. Guyana and Norway are continuing to work in partnership with the United Nations Development Programme, the Inter-American Development Bank and the World Bank on the delivery of GRIF financing to support LCDS Initiatives.
Georgetown, GINA, Saturday, February 4, 2012
Source - GINA
The Board of Governors of the Inter-American Development Bank (IDB) gave final approval on Wednesday February 1 for the execution of the Institutional Strengthening Project for Guyana’s Low Carbon Development Strategy. The approval paves the way for all remaining funds totaling US$ 5.94 million to flow directly to Guyana from the GRIF for full implementation. An initial sum of US 1.06 million dollars of the total US $7 million project cost was released directly to Guyana from Norway last year for preparatory work to be undertaken.
The project, which gained the approval of the GRIF Steering Committee on November 2nd 2011 will mark the first in a series of LCDS projects submitted to the GRIF, to receive approval from the IDB which is serving as one of the partner entities to the GRIF.
The Guyana REDD+ (Reducing Emissions from Deforestation and Forest Degradation) Investment Fund –GRIF, was established in October 2010 as the mechanism through which LCDS projects will be funded.
The LCDS Institutional Strengthening Project is aimed at enhancing national institutional capacity in Guyana to address the impacts of Climate Change, ensure the effective implementation of the LCDS, and meet its commitments under interim REDD+ partnerships. These commitments include avoided deforestation measures that translate into the avoidance of CO2 emissions.
Specifically, the project will strengthen the technical and administrative capacity of the principal institutions responsible for implementing Guyana’s Low Carbon Development Strategy and develop and implement a MRV (Monitoring, Reporting and Verification) system on a national level.
The Government of Guyana has identified the need to strengthen the capacity of three key institutions, namely: the Office of Climate Change (OCC), the Project Management Office (PMO) and the Guyana Forestry Commission (GFC).
The first component will see the design and implementation of a MRV system and the requisite strengthening of national institutional capacities of the GFC for implementing REDD+ activities, and in particular for implementing the MRV system. This component has a total implementation cost of US3.66 million dollars.
The second component will cater to the capacity strengthening of LCDS Institutions namely, the OCC, the PMO and the REDD+ Secretariat. In addition, the institutional diagnostic of the Guyana Environmental Protection Agency-EPA and the Guyana Geology and Mines Commission-GGMC will be financed. The total implementation cost is set at US 3.28 million dollars.
The project being executed by the Office of the President through the OCC, and the GFC, has already seen the laying of groundwork with the development of institutional structures and a post 2012 roadmap for the PMO and the commencement of the recruitment process for new required technical positions within the OCC. Meanwhile, implementation of component 1- the design and implementation of a MRV system, has begun through the GFC. This advance work was made possible through initial project funds totalling US $1.06 million released bilaterally by the Government of Norway to its Guyanese counterpart.
The LCDS and the Guyana-Norway partnership, is the second biggest Interim REDD+ agreement in the world. Since 2009, the two countries have been working to devise a global model for aligning low carbon development with the global fight against climate change. Reporting and independent assessment of Guyana’s performance for 2011 in accordance with the agreed requirements of the Joint Concept Note (JCN) and Memorandum of Understanding between Guyana and Norway will be carried out in the coming months. The level of support depends on Guyana’s delivery of results as measured against two sets of indicators (1) performance against a set of REDD+ Enabling Activities and (2) REDD+ Performance Indicators.
To date Guyana has successfully met the performance requirements for two consecutive years, earning approximately U.S$70 Million which has been transferred by Norway into the Guyana REDD+ Investment Fund (GRIF) and which will be used to support LCDS Initiatives. Guyana and Norway are continuing to work in partnership with the United Nations Development Programme, the Inter-American Development Bank and the World Bank on the delivery of GRIF financing to support LCDS Initiatives.