On 9 November 2009 the Government of the Cooperative Republic of Guyana and the Kingdom of Norway signed a Memorandum of Understanding (MOU) regarding Cooperation on Issues relating to the Fight against Climate Change, the Protection of Biodiversity and the Enhancement of Sustainable Development.
The objective of the MOU is to foster partnership between Guyana and Norway on issues of climate change, biodiversity and sustainable low carbon development. Of particular importance is the establishment of a comprehensive political and policy dialogue on these issues, and close cooperation regarding Guyana's REDD-plus efforts, including the establishment of a framework for result-based Norwegian financial support to Guyana's REDD-plus efforts.
The framework is outlined in a Joint Concept Note between the parties. The key elements of the framework are:
will provide Guyana with finance of up to $250 million over the period
- This finance will be channelled through a multi-contributor financial mechanism called the Guyana REDD+ Investment Fund (GRIF) - Finance will be paid on post delivery of results measured on two sets of indicators: Indicators of Enabling Activities and REDD+ performance indicators including forest-based GHG emissions indicators to be substituted as a MRV system develops.
- Finance will be used to implement Guyana’s Low Carbon Development Strategy and Guyana’s efforts in building capacity to improve overall REDD+ and LCDS efforts.