Google

ASEANAFFAIRS
Sign up | Log in

    ASEAN PROFILES

  ASEAN KEY DESTINATIONS

Home  >>   Daily News  >>   Indonesia  News  >>   Environment  >>   Norway to disburse forestry fund
NEWS UPDATES 21 August 2010

Norway to disburse forestry fund

Related Stories
July 26, 2010
US financial reforms affect Indonesia

July 17, 2010
Pertamina seeks more Indonesian investors

June 16, 2010
 Militants using Malaysia as terror base

June 12,2010
Myanmar denies nuclear programme

August 18, 2008
Vietnam’s non-life insurance premiums soar in H1

July 15, 2008
ARF 2008: N Korea to sign Asean non-aggression pact

Norway has agreed to start the implementation of a bilateral climate deal worth US$1 billion by disbursing an initial fund worth $30 million in September, a senior official says.

“The initial fund will be disbursed next month through the UN-REDD program,” Forestry Ministry Director General of Production Forest Development Hadi Daryanto said.

The UN’s reducing emissions from deforestation and forest degradation (REDD) program had been agreed on as an interim financial institution for the Indonesia-Norway climate deal in a two-day meeting held from Aug. 18 to 19.

Hadi said the UN-REDD program was chosen as the interim financial institution due to its experience in managing funds.

The Forestry Ministry said the UN-REDD program had experience managing Norwegian funds worth $5.6 million to support Indonesia in implementing a REDD+ project in Central Sulawesi. The REDD+ fund in the province would be disbursed over 20 months, starting from Jan. 1.

With this experience, he said, the UN-REDD program was more familiar with the disbursement process of Norwegian funds than other institutions.

“The disbursement process would therefore be quick,” he said.

On May 26, the Indonesian and Norwegian governments signed a moratorium agreement under the REDD+ scheme, requiring Indonesia to stop converting natural forests and peatlands for commercial purposes for two years. In return, Norway would provide compensation of $1 billion for the moratorium.

Under the deal, Indonesia will not issue any new permits for companies to exploit natural forests and peatlands.

In the meeting, Hadi said, Indonesia and Norway also agreed that new permits for companies to expand their businesses on natural forests and peatlands would not be issued in two years, starting from 2011.

Norway is expected to provide $200 million in the first phase with a planned initial disbursement of $30 million in 2010, and the other $170 million in 2011 to 2013.


Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates
Contact: marketing@aseanaffairs.com

Comment on this Article. Send them to  your.views@aseanaffairs.com

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
 
or
submit your comment in the box below
Name

Name


Email

Email



1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand
asean@aseanaffairs.com