• About
  • Advertise
  • Privacy Policy
  • Contact
Monday, September 7, 2026
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result
in Extractives/Energy

Government Receives $1.3 Million Advanced Payment from World Bank For Emission Reduction

Maynard Championby Maynard Champion
September 9, 2020
Reading Time: 3 mins read
Add as Preferred on Google
Chief Executive of the Forestry Commission, John Allotey

Chief Executive of the Forestry Commission, John Allotey

The government has received an advance payment of US$1.3 million out of a US$50 million agreement with the World Bank’s Forest Carbon Partnership Facility for results-based payments, for reducing emissions from deforestation and forest degradation known as REDD+.

According to a statement by the Forestry Commission, the advance payment was included in the programme contract signed last year and the funds will be used for the Ghana Cocoa Forest REDD+ Programme (GCFRP), focused on cocoa forest mosaic landscapes in seven regions within the high forest zone. This emission reductions programme is anchored in the country’s Nationally Determined Contributions (NDCs) to the UN Framework Convention on Climate Change (UNFCCC).

The statement also said that, as part of the programme’s agreed plan, the advance payment received by the Forestry Commission, which houses the National REDD+ Secretariat, will fund activities such as livelihood support, trainings, reforestation and enrichment planting in the program areas, multi-stakeholder and multi-sectorial engagement, and essential program coordination costs.

According to the commission,

ADVERTISEMENT

“the financing is especially timely, given the current COVID-19 situation, for Ghana to maintain momentum with this initiative and to ‘build back greener’.”

Commenting on the payment, Hon. Kwaku Asomah-Cheremeh, Ghana’s Minister of Lands and Natural Resources said,

 “This program is an important vehicle for the effective and successful implementation of both government and private sector commitments under the Cocoa & Forests Initiative, which together feed into the overall forest sector contributions for Ghana’s international climate targets. This advance payment is vital to catalyze the program’s implementation efforts.”

The Chief Executive of the Forestry Commission, John M. Allotey, said that the emission reduction program is a unique private partnership.

“This emission reductions program is a unique public-private partnership between cocoa companies, traditional authorities, farmers, community members, the Ghana Cocoa Board and the Forestry Commission amongst others. It represents a pilot model for sustainable sourcing of cocoa in rapidly growing economies, while reducing emissions from deforestation and forest degradation and creating alternative and additional livelihoods. The Forestry Commission is therefore rallying the support of all stakeholders and beneficiaries to achieve successful implementation.”

World Bank’s Operations Manager in Ghana, Agata Pawlowska, also in the statement said,

 “The advance payment can serve as catalyst for Ghana’s further progress in conserving forests and reducing emissions.”

forest

The programme area, which spans nearly 6 million hectares, is home to 12 million people and includes 1.2 million hectares of forest reserves and national parks.

The programme will promote several environmental benefits such as preventing soil erosion and protecting water resources through sustainable land management practices. It will reduce further deforestation of natural forests and improve carbon sequestration through shade cocoa rehabilitation, enrichment planting and inter-cropping in the Bono, Ahafo, Western North, Ashanti, Eastern, Central and Western regions.

ADVERTISEMENT

It will also support social benefits that provide farmers and community members with potential additional income on a sustainable basis, and plantation activities like nursery operations, planting, forest management and protection which will increase employment opportunities.

During the six-year lifetime of the GCFRP, as the results-based payments for verified emissions begin to flow to Ghana, they will serve as an ongoing incentive for the diverse stakeholders participating in this program and will be shared in accordance with the inclusive benefit-sharing plan.

ADVERTISEMENT

Sign Up to Our Newsletter

Fresh updates, Straight to your inbox

Tags: Forestry ComissionWorld Bank’s Forest Carbon Partnership
Please login to join discussion
Previous Post

Kim Kardashian announces end of reality show ‘Keeping up with the Kardashians’

Next Post

In the United States, the legality of online gambling is

Related Posts

Ghana Gold Board (GoldBod) with Christian Council of Ghana
Extractives/Energy

Christian Council Commends GoldBod For Promoting Responsible Gold Trading

September 7, 2026
Strait of Hormuz
Extractives/Energy

Oil Nears $100 As Hormuz Tensions Return To Ghana’s Pumps

September 7, 2026
Godwin Kudzo Tameklo, Chief Executive Officer, NPA with team at the festival
Extractives/Energy

NPA Takes Petroleum Safety Message To Fetu Afahye

September 7, 2026
Solar panels and Windmills
Extractives/Energy

Africa Must Turn Green Transition Into Industrial Power

September 7, 2026
ADVERTISEMENT

Sign Up to Our Newsletter

Fresh updates, Straight to your inbox

ADVERTISEMENT

Recent News

Minister for Foreign Affairs, Samuel Okudzeto Ablakwa

Ghana Repatriates Nearly 5,000 Citizens From Crises Worldwide Since 2025

September 7, 2026
Minister for Foreign Affairs, Samuel Okudzeto Ablakwa

Ablakwa Announces New Ghanaian Diaspora Council Fund for Crisis Response

September 7, 2026
Absa Unlocks Long-Term Capital for PETROSOL’s Expansion

Absa Unlocks Long-Term Capital for PETROSOL’s Expansion

September 7, 2026
Workers on a pharmaceutical production line in Ghana

Pooled Procurement Could Scale Ghana’s Pharmaceutical Industry

September 7, 2026
Minister for Foreign Affairs, Samuel Okudzeto Ablakwa

Ablakwa Unveils Economic Empowerment Plan for South Africa Returnees

September 7, 2026
ADVERTISEMENT
Next Post

In the United States, the legality of online gambling is

The Vaultz News

Copyright © 2025 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2025 The Vaultz News. All rights reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.