Norway, Germany Back Efforts to Slow Deforestation

Deforestation in Bhutan. Photo by: Curt Carnemark / World Bank / CC BY-NC-ND

Norway and Germany announced on Tuesday (June 21) that they are contributing a total of more than $90 million to the World Bank in a bid to help slow down tropical deforestation in developing countries.

Norway said it will contribute $50 million to a World Bank carbon fund as part of the Forest Carbon Partnership Facility, a global alliance focused on reducing emissions from deforestation and forest degradation and similar initiatives. Meantime, Germany said it will provide an additional 30 million euros ($43 million) to the same fund.

Norway and Germany’s contributions bring the total investments in the carbon fund to some $200 million, Reuters notes. The fund is expected to begin making payments to five countries for results in slowing down deforestation this year, the news agency says. Candidates include Indonesia, Costa Rica, Nepal, Mexico and the Democratic Republic of Congo.

Read more development aid news online, and subscribe to The Development Newswire to receive top international development headlines from the world’s leading donors, news sources and opinion leaders – emailed to you FREE every business day.

About the author

  • Ivy mungcal 400x400

    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.