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New World Bank facility would help against forest degrading

Source:  Copyright 2007, Stabroak News
Date:  October 22, 2007
Byline:  Dr Singh
Original URL: Status ONLINE

Director General of Iwokrama Dr David Singh says that the new World Bank initiative to help countries protect forests is relevant to Guyana since it will support not only avoided deforestation, but also avoided degradation.

"The latter is far more relevant to Guyana with the nature of its forests and the type of activities within the forests found here," Dr Singh said.

The World Bank is working to develop the new fund that would pay developing countries hundreds of millions of dollars for protecting and replanting tropical forests which store huge amounts of carbon and thereby fights climate change.

The fund is called the Forest Carbon Partnership facility and is part of the UN climate change negotiations in Bali in December.

The facility will provide financial incentives to reduce greenhouse gas emissions from deforestation unlike the Kyoto Protocol which offers credits for replanting destroyed ...

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