WB: New Financing For Climate Protection

Jakarta, Jan 14 (ANTARA) - The World Bank (WB)has announced that the Finnish, German, and Norwegian governments have contributed US$180 million to the Forest Carbon Partnership Facility (FCPF) that it administers. "The forests are declining along with global efforts to decrease global carbon use and to face the challenge of climate change in the future," said Vice President of the World Bank for Sustainable Development Rachel Kyte in a written statement here on Monday. Because of this, she noted, the World Bank was very pleased with the ongoing support of the FCPF from the donor countries. The FCPF was established by the multilateral financial institution to provide compensation to developing countries for reducing their carbon-dioxide emissions to preserve their forests. The contribution of new funds raises the FCPF�s capital to US$650 million and ensures support for the efforts of developing countries in reducing the loss of forest coverage and the level of greenhouse-gas emissions. The FCPF is funded by the Readiness Fund, some US$260 million, which provides financing for developing countries to plan their national strategies for reducing emissions from deforestation and forest degradation. Other funding of about US$390 million comes from the Carbon Fund. It provides payment upon verification that emissions have truly been reduced, using REDD+ programs that run in the affected countries. Some ministries in Indonesia have developed action plans associated with protection against the effects of climate change. For example, the Ministry of Maritime Affairs and Fisheries created the Resilient Coastal Rural Development program (PDPT) for 48 coastal villages in 16 districts in an effort to strengthen the local economy and reduce the impact of climate change. "The PDPT program is geared towards poverty alleviation, public institutional sustainability, environmental sustainability, financial independence for villages, disaster preparedness, and climate change," said Minister of Marine and Fisheries Sharif Cicip Sutardjo here on Monday. Various programs have been realised to create or upgrade roads covering 37.3 kilometres of land, improve the water supply for 86 units, create latrines for 110 units, rehabilitate fishermen`s houses in 17 units, and plant up to 576 thousand seeds for coastal vegetation such as mangroves and terminalia catappa (tropical almond). The 16 districts or cities that have joined the program are Asahan District, South Coast, Kaur, Tangerang, Sukabumi, Kendal, Kulonprogo, Pacitan, Pontianak, West Kotawaringin, Banjar, Pinrang, Parigi Moutong, Bau-Bau, West Seram, and the Gulf Wondama.