Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Ecuador
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Green Climate Fund (GCF)
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower or Client: Ministry of Environment
The holder of the loan, grant, or other investment.
Investment Type(s): Grant
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 41.17 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD): $ 84.01 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

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Primary Source

Original disclosure @ GCF website
Updated in EWS: 2017-11-06
Priming Financial and Land-Use Planning Instruments to Reduce Emissions from Deforestation
GCF-FP019

Project Description
Reducing deforestation in Ecuador by investments to support sustainable agricultural production and conservation of forests. The Reducing Emissions from Deforestation and forest Degradation (REDD) mechanism has been boosted by the Warsaw Framework on REDD+ under COP19. The decisions taken specified that countries would develop work programmes to address deforestation, and anticipated that applications for support in results-based financing could be made to the Green Climate Fund. Deforestation levels in Ecuador amounted to 109,000 hectares per year between 2000 and 2009, with over 99% of deforested land being transformed into agricultural areas. Ecuador's REDD+ Action Plan addressed the drivers of this deforestation, with the aim of achieving net zero deforestation by 2020. GCF's investment will co-finance the Action Plan. Targeted investment will control agricultural expansion into forest areas, whilst agricultural and livestock production practices will be implemented to reduce deforestation. Land-use zoning plans will be aligned with national climate change-related targets, and measures will be implemented to support restoration, conservation and sustainable production in vulnerable watersheds. The project will also ensure that financial instruments are aligned with the objectives of the action plan, by orienting public credit lines towards sustainable agricultural production practices, promoting tax incentives for REDD-supportive activities, and strengthening purchasing policies for deforestation-free commodities, their certification and traceability.
Investment Description
Contact Information
CONTACTS ACCREDITED ENTITY United Nations Development Programme (UNDP) Ms. Adriana Dinu Tel: +1 212 906 5143 Mr. Lucas Black Tel: +1 212 906 5842 CSOS IN ECUADOR Coordinating Body of the Indigenous Organizations in the Amazon Basin (COICA) Edwin Vásquez Campos ACCOUNTABILITY MECHANISM OF GREEN CLIMATE FUND The Independent Redress Mechanism (IRM) is the independent complaint mechanism for a person or people who have been or believe they are likely to be adversely affected by a project or programme funded by the Green Climate Fund. If you submit a complaint to the IRM, it may seek to address the issues raised by facilitating a problem-solving dialogue or, if that is not possible, conducting an independent investigation into whether the GCF has complied with its environmental and social policies. The IRM is newly created and is still in the process of developing its procedures and website. More information about the IRM and how you can file a complaint is forthcoming. You can contact the IRM at irm@gcfund.org.
Bank Documents