Official Observer: Greenpeace International
The Forest Investment Program (FIP) is a financing mechanism aimed at assisting developing countries’ reach their REDD goals by providing funds to bridge the gap of investment in order to initiate readiness reforms identified through national REDD readiness strategy building, while promoting sustainable forest management. Additionally, the FIP works ‘to contribute to multiple benefits such as biodiversity conservation, protection of the rights of indigenous peoples and local communities’. Administered by the World Bank, the FIP is a component of the Strategic Climate Fund (SCF) and more broadly the Climate Investment Funds (CIFs) and was approved in July 2009.
For each of the five pilot countries already identified, a joint multilateral development bank (MDB) mission will visit the countries to develop an investment plan. This plan will be approved by the FIP Sub-Committee (FIP-SC) and then specific projects and programs will be prepared and joint financing for these activities will be decided in more meetings of the FIP-SC. With a total of $558 million pledged thus far, the FIP has yet to disburse any funds.
Return to the main forestry page