Vanuatu Government Launches US$3.6 million for REDD+ Program
The Government of the Republic of Vanuatu this week launched US$3.6 million grant towards the Readiness preparation phase of the Reducing Emission from Deforestation and Degraded forests or the REDD+ program in Vanuatu. The Acting Minister of Finance and Economic Development and Minister of Education Bob Loughman made the official launching Tuesday this week in Port Vila.
The launching marked the World Bank program Forest Carbon Partnership Facility (FCPF) Second Readiness Grant Agreement between World Bank and the Government of Vanuatu.
In his address to mark this historic launching, Minister Loughman thanked the World Bank through its FCPF Program for its support to the Readiness phase of the REDD+ program for Vanuatu.
“The Vanuatu Government is grateful for the genuine assistance from the World Bank FCPF program in supporting the funding of the Readiness Preparation Proposal, I must thank the World Bank for kindly approving the Vanuatu’s Readiness Plan Idea Note (P-IN) and supporting the Readiness Grant of US$3.6 million.” He said.
The Minister also highlighted that the occasion is a sign of Vanuatu’s significant achievement in joining the world in contributing to combat the adverse impact of Climate Change through the sector of Forestry through the REDD+ program with an aim to achieve the Sustainable Management of the Forest resources in addressing an improved livelihood of the people of Vanuatu.
“Ultimately in the process of achieving the sustainable management of the forest resources will effectively be contributing to addressing impact of Climate Change at National, Regional and Global level.” Minister Loughman stated in his address.
Vanuatu REDD+ project was initiated in 2010 after the Department of Forestry joined the National Climate Change team in contributing to Address Climate Change through the Vanuatu Carbon Credit Project (VCCP) in developing its Readiness Project Idea Note (R-PIN) for the World Bank Forest Carbon Partnership Program (FCPF) in 2006.
The Vanuatu Government was awarded its Readiness Preparation Grant by the World Bank FCPF in 2010 and in 2011 to 2013, Vanuatu Government drafted its Readiness Preparation Proposal (R-PP) and submitted it to the World Bank FCPF and was later approved and awarded the Second Readiness Grant Agreement in this year 2015.
The total funding of the Vanuatu Readiness Preparation Proposal was US$ 7,186,080. The approved source of funding from the World Bank FCPF program was US$ 3.6 million.
The approved funding will cover the three components of the Readiness Plan – Institutional strengthening for REDD+ management arrangements at the national and decentralized level, strengthening of stakeholder engagement process at the provincial level and the development of a REDD+ strategy for Vanuatu.
The Acting Finance Minister also stressed that for Vanuatu to be able to successfully implement its REDD+ project and observe the positive impacts, it will be necessary to get the support for the additional funding of US$ 3.586,080. This fund will be vital to support the other components of the Readiness Preparation Proposal for Vanuatu.
“I urged the relevant Government institute and other important stakeholders present today to work together in sourcing the additional fund for the successful implementation of the Vanuatu REDD+ program.” He stated.
Tevi Obed representative of the World Bank congratulated the Government of Vanuatu for successfully launching the Grant and it is a timely initiative for Vanuatu as it would contribute to both climate change mitigation actions as well as disaster risk management in the country.
“As a development partner, the World Bank is happy to be partnering with you on this journey towards the socio-economic development of Vanuatu and achieving shared prosperity for the people of Vanuatu.” He said.
It is hoped that with the success of the REDD+ program in the coming years, people will realise that forests are an important part of their lives and are the only source for their livelihood and way of life.
The launching was also witnessed by the Minister of Agriculture, Forestry, Fisheries, Livestock and Biodiversity David Tosul and members of the World Bank mission to Vanuatu.