Government Will Establish a New Body to Manage Norway-REDD+ Grant
In the near future, the Government will establish a new institution or body to manage grant fund from the Government of Norway in Reducing Emissions from Deforestation and Forest Degradation (REDD+) program or reduction of greenhouse gas emission.
At the beginning of next year, we will introduce a new institution to manage the grant from Norway-REDD+, Minister of Finance Bambang P. S. Brodjonegoro said in World Economic Forum in Jakarta, on Monday (14/12).
The Minister expects this grant fund can stimulate next initiative to fund forest conservation and reduce deforestation in Indonesia.
We will share it to all over Indonesia so that the participation will be massive. The grant will be divided to smaller amount and we will give it to local levels, the Minister said.
The Minister also mentioned that next year, in New Development Bank that will be established, there will be green financing scheme. At the moment, we already have green financing scheme in PT SMI, the Minister added.
For the record, Norway has a performance-based agreement to reduce deforestation with Indonesia, Brazil, Colombia, Ethiopia, Guyana, and Liberia.
REDD+ program is a movement that is initiated by the Government of Norway in handling greenhouse effect and forest rehabilitation. Norway disbursed US$ 1 billion to Indonesia. However, it just uses US$ 30 million. Therefore, the Government still has US$ 970 million.