GHANA HAS RECEIVED $21.7M FROM REDD+ CARBON PAYMENTS- LANDS MINISTER
Princess Adoma Danquah The Minister for Lands and Natural Resources, Hon. Emmanuel Armah-Kofi Buah, has disclosed that Ghana has so far received $21.75 million in result-based payments under the Ghana Cocoa Forest REDD+ Programme.
Answering questions in Parliament, Hon. Buah said the programme is being implemented under the Forest Carbon Partnership Facility, FCPF Carbon Fund, and is expected to generate up to $50 million for the period 2019 to 2024.
According to the Minister, revenue is paid based on monitoring reports that are validated and verified by a third party appointed by the World Bank.
“Mr. Speaker, so far Ghana has developed the first two monitoring reports and received payments,” he said.
He broke it down as: $4 million for 2019, and $16 million for 2020 to 2021, bringing the total received to $21,758,000.
Hon. Buah added that the Forestry Commission has already submitted the third monitoring report covering 2022 to 2023. Validation and verification by the World Bank’s appointed third party is currently ongoing.
