First Countries Named to Benefit from Forest Carbon Partnership Facility

Posted to the web 21 July 2008 Washington, DC Fourteen states have been selected as the first developing country members of an innovative partnership and international financing mechanism to combat tropical deforestation and climate change. The 14 developing countries include six in Africa (the Democratic Republic of Congo, Gabon, Ghana, Kenya, Liberia, Madagascar); five in Latin America (Bolivia, Costa Rica, Guyana, Mexico, Panama); and three in Asia (Nepal, Lao PDR, and Vietnam). They will receive initial funding from the Forest Carbon Partnership Facility (FCPF), an innovative approach to financing efforts to combat climate change. The FCPF aims to reduce deforestation and forest degradation by compensating developing countries for greenhouse gas emission reductions. The partnership, approved by the World Bank Board of... [read full story]