The funding is intended to help reduce deforestation and forest degradation, increase carbon stocks and reduce poverty. This programme will engage communities in land management to generate financial and environmental benefits.
About 12,000 people, half of them being women, would receive support in capacity building and equipment. They will also benefit from financial incentives through benefit sharing agreements to develop forestry, agro-forestry and alternative livelihood activities. The initial stage of the programme will be piloted in the forest areas in the Western and Brong-Ahafo regions.
According to the Task Manager for the programme, Albert Mwangi, “Approval of this funding means that
Ghana can ramp up sustainability of its forest sector and ensure that forest-related communities are both recipients and creators of effective and climate-smart economic solutions.”
The CIF was established in 2008, and is one of the largest fast-tracked climate financing instruments in the world, which provides developing countries with grants,
concessional loans, risk mitigation instruments and equity through engaging local communities in REDD+ and Enhancement of Carbon Stocks (ELCIR+)” projects.