$4.5 million in grants signed to support REDD+ Readiness in the Central African Republic
April 26, 2017 -- Grants totaling $4.5 million have recently been signed for the Central African Republic to support the REDD+ Readiness process and prepare associated investments in the forest sector. The signing ceremony took place during the World Bank-IMF Spring Meetings and was attended by high level representatives from the government and the World Bank, including the Minister of Economy, Planning and International Cooperation, the Minister of Finance and Budget, the World Bank’s Country Director and Country Manager, and the Forest Carbon Partnership Facility (FCPF) Program Managers.
The FCPF is providing a $3.8 million grant to support the country to establish institutional arrangements for REDD+, deepen the technical knowledge on deforestation and degradation, consult and engage stakeholders in the management of forest resources and develop a national strategy for REDD+ implementation. Complementing the FCPF funding, the Central African Forest Initiative (CAFI) is providing a $700,000 grant to define an investment plan and specific proposals to reduce deforestation and degradation and sustainably manage forests, while providing much needed economic opportunities to the population. The REDD+ approach is expected to support community management of natural resources and an improvement to the framework for productive forestry activities. These funds will also complement a $10 million IDA project under preparation focusing on natural resources governance, aimed at the forest and mining sectors.
This funding comes at a time when the international community is directing assistance to the Central African Republic to support peace-building and economic recovery, following years of civil conflict.
Moustapha Ndiaye (World Bank Country Director for the Central African Republic, Democratic Republic of Congo and Republic of Congo) and His Excellency Mr. Félix Moloua (Minister of Economy, Planning and International Cooperation)