Financing summary
Currently, the main source of REDD funding in Guyana is via its MOU with Norway, that provides finance of up to USD250 million between 2010 and 2015. This finance is placed into the Guyana REDD+ Investment Fund (GRIF), which then funds projects and activities under the LCDS. Priority activities for funding under the GRIF include the demarcation of Amerindian Lands and Institutional strengthening relating to REDD+, which are earmarked for USD3.6 million and USD7 million respectively. The Amaila Falls Hydropower facility could be part-funded by the purchase of USD30-40 million of equity via the GRIF. It should be noted that while Norway is currently the only contributor to the GRIF, it is planned that Guyana will partner with other countries in similar arrangements, with the GRIF being the mechanism through which such payments would be disbursed.
In addition to finance via Norway, Guyana is seeking other partners to provide finance to activities and the GRIF. One source is the FCPF, through which Guyana is expected to receive a total of USD 3.6 million to implement activities outlined in the RPP. However, as previously mentioned, to date, Guyana has received no funds from the FCPF. Conservation International has helped to harness finance from KfW to assist the Guyana Forestry Commission in developing and implementing its Monitoring, Reporting and Verification System Roadmap, along with supporting it directly. The IDB has provided financial support to build capacity in the Office of Climate Change and both USAID and the ITTO have provided financial and technical support to the Guyana Forestry Commission in building capacity for MRV. Guyana is also providing in-kind contributions to these projects.
At the subnational level, Conservation International are financing up to USD100,000 per annum to fund the Upper Essequibo Conservation Concession , including operating costs and paying fees to the Guyanese Government and Canopy Capital are provide funding to the Iwokrama Reserve in return for the right to measure and market ecosystem services (Iwokrama 2009).