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The Government of Guyana and the European Union (EU) signed a Memorandum of Understanding (MOU) on ‘Forest Partnership’ which will see the country receiving an initial €5 million grant to help with the preservation of its forest.
The signing was done between Natural Resources Minister, Vickram Bharrat and President of the European Commission, Ursula von der Leyen on the sidelines of the United Nations Climate Change Conference, COP27 being held in Sharm El-Sheikh, Egypt.
The MOU has four main objectives; increasing the area of protected, restored or sustainably managed forests, including mangroves; increasing the number of forest-related jobs; maintaining the close-to-zero annual rate of deforestation of natural forests; and looking for ways to facilitate investment and trade in legal and sustainable wood products between Guyana and the EU.
The €5 million grant will support activities for Indigenous Peoples and local communities, small-scale producers, promoting sustainable trade in forest and agriculture commodities, and building capacity.
Youth and women are expected to play an important role in the planning and implementation of activities related to the partnership.
President Irfaan Ali said the partnership comes at a time when the world is concerned about the continuing adverse and devastating impacts of climate change, and partnership with EU is underpinned by the recognition of the role of Guyana’s pristine forests to the health and wellbeing of the global environment.
Guyana’s forests constitute a part of the country’s rich natural capital and its abundant invaluable timber, minerals and priceless biodiversity.
As part of continued efforts to preserve the forest, Guyana launched a visionary Low Carbon Development Strategy (LCDS) 2030.
The LCDS details how the nation’s forest and biodiversity can be maintained, while the country expands green jobs, transitions the domestic energy supply to clean and renewable energy sources and to the impact of climate change.
