Government yesterday confirmed that the Kingdom of Norway has released G$9.1 billion to the World Bank-run Guyana REDD+ Investment Fund (GRIF), thereby completing its final payment under a landmark forest protection deal between the two countries.
The Ministry of the Presidency said Dr Marlon Bristol, Head of its Project Management Office, confirmed the release of 393.4 million Norwegian Kroner (US$43.9 million) to the GRIF for disbursement for approved projects.
According to a ministry statement, Bristol said the funds were released last Wednesday to the World Bank, which yesterday issued its confirmation of receipt.
Bristol was also reported as saying that the funds will be used for projects in areas such as renewable energy, “green” tourism, biodiversity, strengthening of indigenous mechanisms, and the European Union Forest Law Enforcement, Governance and Trade (EU FLEGT) Voluntary Partnership Agreement, which is a legally binding trade agreement between the EU and timber-producing countries outside the EU.
He said the “fruitful developments” were possible due to the hard work of several ministers—he singled out State Minister Dawn Hastings-Williams—and several government agencies, and non-governmental organisations, including Indigenous peoples’ groups.
“Project development can now move ahead assiduously for the full realisation of long-awaited benefits to the Guyanese people. From a slow start and a past…penalty to the tune of US$15 million before this government took office, the Guyana-Norway Agreement can now boast of satisfactory results,” he was further quoted as saying.
According to the ministry, the transfer was made possible following a meeting between Hastings-Williams and Norway’s Minister for Climate and Environment Ola Elvestuen in September on the margins of the United Nations Climate Summit in New York.
It was noted at the time that in accordance with the bilateral agreement between the two countries, the two ministers agreed that Guyana has met its commitments and therefore Norway would disburse all final payments.
However, as Stabroek News reported last October, Norway has indicated that the government cannot access the funds at present due to its current caretaker status and disbursements cannot be sanctioned until after the expected March 2nd general elections. “I also believe it was made clear by our minister during the climate summit in NYC that payments will [not] be sanctioned out of the GRIF until after the elections have been held and a government with a mandate from that election is in place,” former Director of Norway’s International Climate and Forest Initiative (NICFI) Per Fredrik Pharo told this newspaper in October. “In other words, the money will not be spent until the current situation is resolved,” he added.
Under the 2009 deal, Norway agreed to pay up to US$250 million over five years for Guyana’s performance on limiting greenhouse gas emissions from deforestation and forest degradation, and for progress made against governance-related indicators.
According to the ministry statement, Bristol yesterday said that Guyana will also enter a new round of talks with Norway to support President David Granger’s Green State Development Strategy (GSDS) and particularly environmental safeguards that can realise a “green” economy.
