The World Bank has announced that Ghana has become the third country to sign an agreement with the Bank that will reward community efforts to reduce carbon emissions from deforestation and forest degradation, reports from ITTO.
Ghana’s five-year Emission Reductions Payment Agreement (ERPA) with the Forest Carbon Partnership Facility’s (FCPF) Carbon Fund administered by the World Bank unlocks performance-based payments of up to US$50 million for carbon emission reductions from the forest and land use sectors.
Mozambique and the Democratic Republic of Congo have also signed ERPAs over the past ten months, with other Carbon Fund countries expected to sign similar agreements.
This programme will help to secure the future of Ghana’s forests while enhancing income and livelihood opportunities for farmers and forest-dependent communities, said Kwadwo Owusu Afriyie, Chief Executive of the Ghana Forestry Commission.
