Posted on December 3, 2019 1:24:00 PM
Brussels, 4 November: As part of growing commitments from donors to Central African forests and people, matching growing concern about accelerating forest loss of Earth’s 2nd lung, the European Commission signed a15 million euros (16 million dollars) funding agreement to the Central African Forest Initiative (CAFI) Trust Fund.
Through this funding, the EU’s goal seeks to support and monitor the effective implementation of key national policy reforms and programs in all sectors affecting Central African forests. In the short term, this means mobilizing funding and engage policy makers, stakeholders, communities, and people on key policy reforms in key sectors affecting Central African forests, notably on forest governance and legality, land use planning and zero-deforestation agriculture.
In line with CAFI’s vison, the EU contribution will help the CAFI partner countries develop and implement national, ambitious and holistic REDD+ or Climate & forests Investment plans that align with countries development plans, and encourage and sustain high-level leadership and cross sectoral engagement for their implementation.
Building on its experience in forest governance through FLEGT- VPA processes, the EU contribution will also complement, contextualize and strengthen the effectiveness of its EU FLEGT 2018- 2022 workplan in the sub-region, including actions to improve forest governance and timber legality in general. Through strengthening forest governance and promoting a sustainable and legal timber value chain, the EU support to CAFI will contribute to job creation, sustainable forest management and climate change action.
Finally, the EU contribution will allow for the enhanced engagement of all stakeholders, including the private sector.
This support contributes to SDGs 1, 2, 5, 7, 9, 13, 15 and 17, the Paris Agreement as well the Prosperity, Planet and Peace components of the European Consensus on Development. Through CAFI, the EU contribution will provide political, technical and financial incentives to support Central African governments in making policy choices that contribute to preserving their forests while developing and diversifying their economies towards increased prosperity and sustainability.
The EU contribution is earmarked to the Republic of Congo, with whom CAFI signed a US$ 65 million Letter of Intent in June 2019.
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