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Guyana to receive US$30m for preserving forests + Investment in hydropower

Guyana’s President Bharrat Jagdeo has won the admiration of several world leaders for his knowledge and the manner in which he dealt with deforestation and climate change at conferences in Copenhagen and other places.

It seems that his country has taken a jumpstart, because the Co-operative Republic will be the first country to be compensated for keeping its standing forest under a scheme known as Reducing Emissions from Deforestation and Forest Degradation (REDD).

In making the announcement in Georgetown over the weekend, Jagdeo said that some of the funds will be used to finance the construction of a massive hydropower plant at Amaila Falls.

The payment will go towards removing the country’s economy from fossil fuel reliance for energy and will form part of the government’s investment in the hydroelectricity plant.

The president also disclosed that some of the money that is being provided by Norway’s Memorandum of Understanding (MOU) would also be used to buy solar-power panels for several Amerindian communities across the country as part of the Clear Energy Trust.

Source: Caribbean News Now

Category/ies:Guyana News.
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