Guyana REDD+ Investment Fund (GRIF)
The Guyana REDD+ Investment Fund (GRIF) is a fund set up to finance activities identified under the Government of Guyana's Low Carbon Development Strategy (LCDS). The fund will receive up to USD 250 million from Norway for forest climate services under the REDD+ framework, representing an innovative climate finance mechanism. The LCDS stated aim is to combat climate change while simultaneously promoting economic growth and development, by investing payments received for avoided deforestation into strategic low carbon sectors. These payments will catalyse Guyana’s efforts to diversify its economy and provide new economic opportunities, employment and more efficient use of resources, while maintaining a valuable forest ecosystem.
The objective of GRIF is to (i) receive payments for forest climate services provided by Guyana; and (ii) transfer these payments and any investment income earned on these payments, net of any administrative costs of the Trustee and the Secretariat and any administrative fees to the Partner Entities, for projects and activities that support the implementation of Guyana's LCDS.
Projects are identified through a national consultation process.
In September 2019, Norway disbursed all final payments totaling approximately USD 50 million.
USD 68.31 million