THE Ministry of Natural Resources has expressed its gratitude following the announcement that Norway will be disbursing final payments of some US$50M to the Guyana REDD+ Investment Fund as agreed in 2009.

The agreement was formally reached on the margins of the United Nations (UN) Climate Summit in New York on Wednesday between Minister of State, Dawn Hastings-Williams and

Norway’s Minister for Climate and Environment Ola Elvestuen.
In accordance with bilateral agreements between two countries, the two ministers agreed that Guyana has met its commitments, and that therefore Norway would disburse all final payments, totaling approximately US$50M, which is equivalent to the remainder of the pledge made in 2009.

In a release issued on Thursday, the Ministry of Natural Resources stated: “The Ministry of Natural Resources and the Guyana Forestry Commission are pleased with the continuing progress made between the Governments of Guyana and Norway and applauds the efforts of all stakeholders who have managed to ensure that Guyana’s forests are being preserved and developed sustainably for generations to come.”

The disbursement of the monies will be made to the Guyana REDD+ Investment Fund (GRIF), which is being administered by the World Bank.

Minister Elvestuen reportedly emphasised at the just-concluded UN meet that Norway is most impressed with the continued low deforestation rates in Guyana over many years, and with the substantive progress that has been made on forest governance.