Green Climate Fund Allocates $200 Million for Suriname's Interior Development
Suriname is positioned to receive approximately $200 million from the Green Climate Fund to advance sustainable development in its interior regions. The initiative aims to protect local wildlife and ecosystems while fostering economic alternatives to traditional practices, such as logging.
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The Green Climate Fund has earmarked $200 million for Suriname's sustainable development project, focusing on protecting wildlife and ecosystems, including wild boars and mangroves. The funding is expected to be available around 2028 or 2029, contingent on project timelines.
The initiative involves collaboration with the FAO and aims to generate carbon credits, with negotiations ongoing with Deutsche Bank for trading credits from 2021, particularly with German firms. This revenue will provide initial capital for projects in the interior, diversifying the economy beyond logging.
The total program consists of three phases, culminating in 2039 with funding from the oil and gas sector. Community trust is essential, given past project issues, and the program emphasizes Free, Prior and Informed Consent (FPIC) to ensure local involvement in project development.
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