The 2019 Annual Meetings of the African Development Bank Group will be held from 11-14 June 2019, in Malabo, Republic of Equatorial Guinea. Find out more
The Forest Investment Program (FIP) approved on Thursday, April 16 in Washington, DC $101,000 for Burkina Faso to ramp up its monitoring and reporting on its Gazetted Forests Participatory Management Project for REDD+ , and Decentralized Forest and Woodland Management Project. As the leading implementation support to the country for its FIP program, the African Development Bank (AfDB) is working with the country to ensure that an effective and adequately funded plan is in place for monitoring the projects’ outcomes.
The new funding will allow the country, with AfDB support coordinated with the World Bank, to carry out a series of agreed activities to advance effective monitoring of the projects on the ground as they develop. Activities include:
The additional support is critical, because while the monitoring project has started recently with consultations and identification of interventions, it has not yet resulted in effective creation of baseline data. The infusion of the funding will ensure that the projects can move ahead with effective monitoring.
About the Climate Investment Funds (CIF)
Established in 2008, as one of the largest fast-tracked climate financing instruments in the world, the $8.1 billion CIF provides developing countries with grants, concessional loans, risk mitigation instruments, and equity that leverage significant financing from the private sector, MDBs and other sources. Five MDBs – the African Development Bank (AfDB), Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD), Inter-American Development Bank (IDB), and World Bank Group (WBG) – implement CIF-funded projects and programs.
REDD+ is “Reducing emissions from deforestation and forest degradation in developing countries; and the role of conservation, sustainable management of forests and enhancement of forest carbon stocks. in developing countries”.