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Guatemala strengthens its green financing structure with the National Forest Fund

San José Pinula, March 13, 2019: With the participation of representatives of the country's environmental and forestry institutions and international cooperation agencies, the National Forestry Institute of Guatemala (INAB), presents a new financial mechanism to strengthen the good management of forest landscapes and reduce the effects of climate change, called the National Forestry Fund -FONABOSQUE..

FONABOSQUE aims to finance activities to maintain and increase the country's forest cover and was developed with the support of the Green Development Fund for the SICA countries, which is a regional program of CCAD financed by the European Union and the Federal Ministry of Environment of the Republic of Germany.

With FONABOSQUE, the country has an adequate financial mechanism to contribute to several sustainable development objectives such as the mitigation of risks associated with the effects of climate change, food security and energy security, through the management, recovery, restoration, establishment, production and conservation of agroforestry landscapes.

The Manager of the National Institute of Forests of Guatemala, Engineer Rony Granados, referred to the National Fund for Forests, and said: "Through this mechanism, the country strengthens its climate financing structure to develop actions that contribute to the restoration of its ecosystems to fulfill its commitment to restore 1.2 million hectares in Guatemalan territory.

The development of FONABOSQUE was a joint effort with the Green Development Fund for the SICA region, which supports the consolidation and integration of financing mechanisms for the restoration of ecosystems with the aim of contributing to the resilience of the countries of the Central American region to the effects of climate change.

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Jan Bock, director of Green Development Fundadded: "Guatemala has taken a step forward with the creation of the National Forest Fund, and establishes the technical and administrative conditions to finance natural solutions to climate risks.

"The European Union is deeply committed to climate change financing initiatives because they are highly significant in contributing to food security, conservation and sustainable use of water; and the preservation of an environment that ensures the good life of Guatemalan citizens. The European Union collaborates in different ways in the country to contribute in this sense, especially to support initiatives such as those promoted by the INAB that seek the good management of the forest resource that is the basis of a sustainable ecosystem". Said Ms. Beatrice Bussi, Deputy Head of Cooperation of the European Union in Guatemala.

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Context:

Central America and the Caribbean are among the regions most affected globally by the effects of climate change. The frequency and scale of extreme weather events are increasing, causing droughts, floods, avalanches, fires, the increase of pests and diseases and other phenomena that put the livelihoods of rural populations at risk. In addition, natural resource degradation - resulting from land misuse and deforestation - has drastically reduced essential ecosystem services, such as water and microclimate regulation, soil protection and biodiversity in general.

Ecosystem and landscape restoration ensures important ecosystem services for people and strengthens resilience to the effects of climate change. Therefore, the governments of the region, within the framework of the Sustainable Development Goals (SDA) and the Nationally Determined Contributions to the Paris Agreement (NDC), give high priority to ecosystem and landscape restoration as an adaptation strategy to climate change.

On that basis, the Green Development Fund for the SICA region, funded by the European Union and the Ministry of the Environment of the Federal Republic of Germany and implemented by the Central American Commission on Environment and Development (CCAD) in conjunction with GIZ, supports the consolidation and integration of financing, implementation and monitoring mechanisms at the regional level and provides resources to finance ecosystem restoration projects in prioritized landscapes.

Source: Communications, Green Development Fund Program for the SICA region

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This website has been developed with the financial support of the European Union and the Federal Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU) of the Federal Republic of Germany, within the framework of BMU's International Climate Initiative (IKI) as part of the Green Development Fund Programme for the SICA/REDD+ Landscape region. Its contents are the sole responsibility of the Program and do not necessarily reflect the views of the European Union or the German Government.

The Green Development Fund for the SICA region /REDD Landscape is implemented by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) in coordination with the Central American Commission on Environment and Development (CCAD).
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