Ghana Wins Funding to Restore and Expand Sustainable Forests
Ghana received approval on Thursday, September 22, 2016 from the African Development Bank (AfDB) for a project to restore degraded forest reserves and double a sustainable forest plantation through a first-of-its-kind Public-Private Partnership (PPP) in its forest sector. The project is backed by a US $10-million concessional loan from the Climate Investment Funds' Forest Investment Program (CIF FIP) approved on July 1, and supplemented by US $14 million in co-financing from the AfDB.
The project approval comes a day after Ghana ratified the Paris Agreement on climate change at the UN in New York, signaling its full commitment to linking its climate action and development path. Ghana's restoration of its forest sector will play an important role in meeting its commitments under the Agreement.
Francesco Veronesi