President Bharrat Jagdeo today witnessed the signing of a framework agreement between the parties to the Amaila Falls Hydro-Plant project. The agreement sets out the parties’ intention to reach financial closure within 12 months, “or ideally sooner”.

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Ministerial Statement on the Establishment of the Guyana REDD+ Investment Fund

UN Secretary-general Ban Ki-moon on Tuesday reiterated the need for world leaders to deliver sizable financial support to developing countries to fund their efforts in mitigating fand adapting to climate change.“Climate financing is an investment in a safer, cleaner, more prosperous future for all of
us,” Ban said in remarks at a press conference in New York, marking the end of a twoday meeting of the high- level Advisory Group on Climate Change Financing (AGF). Sources of long-term financing “must be economically sound and politically viable,” Ban
told reporters.

PRESIDENT Bharrat Jagdeo and Norway’s Prime Minister Jens Stoltenberg yesterday announced the establishment of the Guyana REDD+ Investment Fund (GRIF) and stated that they have invited the World Bank to act as the fund manager.
Norway will be the first contributor to the GRIF and will pay US$30M into the fund when it is established, planned at the end of this month. The payment is in recognition of Guyana’s efforts to protect its 16 million hectare rainforest and follows the memorandum of understanding signed by the two countries in November last year.