Guyana is currently in the process of preparing to receive its latest tranche of payment from Norway for maintaining its forest as the performance based audit to facilitate the payment is on-going.
Minister of Natural Resources and the Environment Robert Persaud was brought up to speed on this audit, following a briefing session, with representatives from the Guyana-Norway Independent Verification Mission for Redd+ Enabling Action and the Guyana Forestry Commission (GFC.)
In November 2009, Former President Bharrat Jagdeo and the Former Minister of the Environment and International Development of Norway, Erik Solheim signed a Memorandum of Understanding, in which Norway committed to provide to Guyana up to US$250M by 2015 for avoiding deforestation, once certain performance indicators are met.
The payments are made based on performance based reports by Guyana in the Annual Progress Report. The Office of Climate Change (OCC) and GFC are the two agencies responsible for preparing the reports.
During the session, Minister Persaud also provided and update on the progress of the Land Use Plan, the Extractive Industry Transparency Initiative, and the mechanism for reducing degradation.
This will be the fourth tranche of payment that Guyana will receive from Norway. It has already received payments totalling US$115M.