Finland, Germany and Norway Announce Pledges to the FCPF
10 January 2013: The Forest Carbon Partnership Facility (FCPF), which is administered by the World Bank, has received three separate financial contributions from Finland, Germany and Norway, totalling approximately US$180 million. Wtih the additional contributions, the FCPF capitalization has reached approximately US$650 million.
The FCPF is composed of 54 countries and organizations, including 36 forest countries and 18 financial contributors, to support the implementation of REDD+ at the national level. It combines two funds: the Readiness Fund (about US$260 million), responsible for assisting countries to develop REDD+; and the Carbon Fund (US$390 million), which provides performance-based payments to countries that have made significant progress in large-scale REDD+ programmes.
Norway is contributing approximately US$100 million to the Carbon Fund; Germany €46.2 million to the Carbon Fund and €10.2 million to the Readiness Fund; and Finland €4 million to the Readiness Fund. [World Bank Press Release]