Norway to fund forestry projects in Vietnam

Vietnam will receive US$30 million from the Government of Norway to conduct the second phase of the National UN-REDD Programme to Reduce Emissions from Deforestation and Forest Degradation.

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The support was marked by an agreement signed on July 29 between the Ministry of Agriculture and Rural Development and the Food and Agriculture Organisation (FAO) of the United Nations, the United Nations Development Programme (UNDP) and the United Nations Environment Programme (UNEP).

Vietnam has become the first of the 47 UN-REDD partner countries to move into the second phase of greenhouse gas reduction through improved forest and land-use management.

The National UN-REDD Programme to Reduce Emissions from Deforestation and Forest Degradation (REDD+) would be a major pillar of Vietnam’s efforts to reduce greenhouse gas emissions from the agriculture and rural development sector by 20 per cent by 2020, Minister of Agriculture and Rural Development Cao Duc Phat said.

REDD+ was considered a promising solution to help Vietnam increase its overall forest cover to 45 per cent by 2020.

During the next three years, the programme will help identify, negotiate, plan and implement land-use practices that are sustainable, climate-smart and adapted to local needs.

Additional financial incentives would be made available by the Government of Norway and other international partners for verified greenhouse gas emission reductions achieved through the programme, said UN Resident Co-ordinator in Vietnam Pratibha Mehta.

She said that the event was a landmark for Vietnam. “The Phase Two programme includes a clear way forward for Vietnam to benefit in multiple ways, not just from this $30 million programme. However, if Vietnam is to make the most of the opportunities, Phase Two must deliver on time on all of its objectives,” she noted.

The same day, the Japanese Fund for Poverty Reduction, through the Asian Development Bank, has promised to grant US$1.5 million to help Vietnam pay for forestry environmental services during the 2014-16 period.

Source: Eco-business.com

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