EU awards grant of over $1 billion to Guyana in support of forest sustainability and community development

The European Union has granted Guyana over $1.1 billion (equivalent to €5 million) to preserve its forests and natural resources, as well as enhance sustainable development in the Amerindian communities. On Wednesday, at State House, President Dr. Mohamed Irfaan Ali and Deputy Secretary General of the European Union Action Service, Helena Konig, signed a billion-dollar pact to advance the project. The agreement was the result of discussions at the Conference of the Parties (COP) 27 in Egypt in November last year. The French Development Agency (Agence Française de Développement - AFD) and the World Wildlife Fund (WWF) Guianas will be the partners implementing the project. The $1.1 billion funding will enable Amerindian communities to establish sustainable business initiatives that will help alleviate the strain on the natural resources and safeguard the forest and its biodiversity. President Ali emphasized that this collaboration is crucial in tackling global issues and is aligned with his administration's objectives of fostering a low carbon economy and supporting sustainable livelihoods. He further added that Guyana aims to lead the way in sustainable forest management, particularly in utilizing the forest to transform nations by creating a socially, economically, and environmentally sustainable model. The program is designed to promote consistency, synergy, and reinforcement of government initiatives in the area. One example is the allocation of 15% of carbon credit sales to projects in Amerindian communities. The President revealed that the villages have already developed their sustainability plans, and the program aims to complement and enhance those plans in close coordination with the Low Carbon Development Strategy.

Source(News: Department of Public Information)

---

15 Mar 2023 17:30 | by anaraine

| Health, Safety, Security, Environment and Standards