India, Brazil, the Democratic Republic of Congo, Morocco, Nepal, and Romania were chosen to represent developing countries on the FIP, a Programme of the Strategic Climate Fund under the Climate Investment Funds of the multilateral development banks. They join Australia, Denmark, Norway, the United Kingdom, and the United States, who have pledged nearly $350 million to the FIP, the World Bank said in a news release on Tuesday.
The FIP Trust Fund Sub-Committee, the governing body of the Programme, will meet in Washington D.C. for the first time Oct 29, to begin implementation of the programme, including consideration of criteria for how to select pilot countries and regions.
The FIP governance structure is among the first in a new generation of partnerships among developing and developed countries and other stakeholders which takes account of the need for a level playing field in addressing climate action, the Bank said. FIP investment programmes will be implemented through a limited number of country-led and owned FIP pilot programmes.
These should lead to replicable models resulting in effective forest management, improved forest governance and information systems, restoration and sustainable management of degraded forests, forest protection measures, and other investments to reduce the pressure on forests, both inside and outside the forest sector,it said.
The pilot programmes will be chosen by taking into account country distribution across regions and biomes, ensuring that the FIP will generate broad lessons addressing a range of challenges for the sustainable management of forests, the Bank said.
The FIP, one of three specialized Programmes under the Strategic Climate Fund of the Climate Investment Funds, will be implemented jointly through the multilateral development banks in close collaboration with other development partners, such as the United Nations and bilateral agencies.
