Ecuador has already received USD 31.4 million from Norway and Germany after reducing deforestation in the 2015-2018 period.
In the framework of the United Nations Conference on Climate Change, the Ministers, Gustavo Manrique from Ecuador, and Espen Barth Eide from Norway, announced the expansion of the Norwegian Cooperation in USD24 million to strengthen actions against deforestation under the approach REDD +.
REDD + is a mechanism that seeks to implement measures and actions to reduce the causes of deforestation and promote the conservation, management and sustainable use of forests. Countries that demonstrate emission reductions receive financial rewards from international funds.
In the middle of the bilateral meeting, Minister Manrique stated that the conservation of terrestrial and marine ecosystems is a priority for Ecuador: “With the support of Germany and Norway we have achieved important achievements in reducing deforestation and conserving our biodiversity . On behalf of the Ecuadorian Government, I thank Norway for its great commitment to the conservation of our forests, whose benefit is not only for Ecuador but for the whole world.
Under the REDD Early Movers program of the German Development Bank KfW, Ecuador has already received USD 31.4 million from Norway and Germany after reducing deforestation in the period 2015-2018, positioning itself as one of the first countries in the world to receive this retribution. Part of these funds has been allocated to the Socio Bosque program, which offers economic incentives to indigenous peoples and local communities who conserve forests.