APEC-VC Korea

ANNOUNCEMENT

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Title [GGGI] Norway commits additional US $250 million (2020 to 2025) for Colombia to fight against deforestation
Date 2018-04-27 PM 1:40:25 Hit 276
Contents
 
April 10 – Bogota, Colombia – Norway committed additional US $250 million (2020 to 2025) for Colombia today to fight against deforestation by extending the Joint Declaration of Intent (JDI). H.E. Prime Minister Erna Solberg and H.E. President of Colombia Juan Manuel Santos announced the new timeline for their cooperation to fight against deforestation. Norway will contribute up to USD 50 million per year until 2025.
Colombia and Norway have been working closely for several years on tackling climate change and forest management. In the year 2014, the REDD Early Movers (REM) agreement was created, which constitutes the framework of payment-for-performance to avoid deforestation in the Colombian Amazon under the Amazon Vision program. Subsequently, in 2015 the effort expanded under the Joint Declaration of Intent (JDI), which develops two fundamental components to prevent deforestation throughout the national territory: the fulfillment of 63 policy milestones (approx. 50% have been covered as of today) (Modality 1), and the expansion of a payment for performance scheme at the national level (Modality 2).
The GGGI Colombia team has been an active partner of the negotiation team to extend the agreement beyond 2020, by providing technical inputs and advice. Since 2017, GGGI has also been actively implementing the JDI milestone together with the two governments.
 
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