SUVA, January 28, 2021
The US$12.5 million agreement will help to improve livelihoods and incomes while reducing pressures on forests
The Republic of Fiji has signed a landmark agreement with the Forest Carbon Partnership Facility (FCPF), a global partnership housed at the World Bank, that will unlock up to US$12.5 million (approx. FJ$26 million) in results-based payments[1] for increasing carbon sequestration and reducing emissions from deforestation and forest degradation. Fiji is the first small island developing state to sign an Emission Reductions Payment Agreement (ERPA) with the FCPF. The five-year agreement will reward efforts to reduce carbon emissions from deforestation and forest degradation under Fiji’s ambitious emission reductions program. Both the Ministry of Economy and the Ministry of Forestry play leading roles in this initiative.
For more information click on link below.
https://www.worldbank.org/en/news/press-release/2021/01/28/world-bank-and-fiji-sign-agreement-to-reduce-forest-emissions-and-boost-climate-resilience
