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Patrick Verkooijen World Bank What I will address

FCPF Steering Committee 9-10 July, Paris Forest Investment Fund (FIF) & Global Forest Partnership (GFP). Patrick Verkooijen World Bank What I will address. Climate Investment Funds and Forests Berlin design meeting 21-22 May 2008 WBG Board decision on 1 July 2008

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Patrick Verkooijen World Bank What I will address

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  1. FCPF Steering Committee 9-10 July, Paris Forest Investment Fund (FIF) & Global Forest Partnership (GFP) Patrick VerkooijenWorld BankWhat I will address

  2. Climate Investment Funds and Forests • Berlin design meeting 21-22 May 2008 • WBG Board decision on 1 July 2008 • Mandate for establishment of Forest Investment Fund/Program under SCF • Endorsement G8 Finance Ministers Forest Investment Fund/Program

  3. “Within the framework of SCF a FIF/Program should be established by the end of 2008, to mobilize significantly increased funds to reduce deforestation and degradation, and promote improved SFM, leading to emissions reductions and the protection of carbon reservoirs” Forest Investment Fund/Program

  4. Consultation Process: “This FIF/Program will be developed based on a broad and transparent consultative process. That process will take into account country led priorities for the containment of deforestation and degradation, and build upon complementarities between existing forest initiatives” Forest Investment Fund/Program

  5. Readiness Mechanism READINESS FUND Capacity Building Carbon Finance Mechanism CARBON FUND Payments for Emission Reductions FCPF:Two Funds / Mechanisms ~$100 million ~$200 million

  6. Key elements FIF/Program • Addressing transformational investment needs of developing countries recognizing the root problems of deforestation • Remedial strategies: portfolio of investments • Neutral to climate change negotiations • Learning by doing and demonstrating actions at scale • Voluntary & country-driven Forest Investment Fund/Program

  7. FCPF/FIF relationship

  8. Integrated Readiness + Investments + Payments Program Incentive Payments for REDD FLEG, alternative livelihoods, alternative agribusiness investments, intensification of agriculture and cattle ranching, improved infrastructure planning, reforestation,etc. Value ≥ Cost FCPF Carbon Fund Reforms & Investments for REDD Forest Investment Fund Reference scenario, REDD strategy, Monitoring system REDD Readiness FCFP Readiness Fund

  9. Country ownership: Activities will be grounded in country-led strategies. Exact portfolio of investment needs articulated through broad consultative processes, such as anticipated by FCPF and possibly GFP • Concessional financing: Donor contributions would be new and additional. The FIF would utilize a range of concessional financing instruments, such as grants and concessional loans • Target size: US$ 1 billion Forest Investment Fund/Program:Indicative Building Blocks

  10. Governance arrangements: • Overarching principle: broad-based and inclusive • Within the framework of SCF (Trust Fund Committee and Partnership Forum) • Sub-Committee established by Trust Fund Committee for each of the programs • Sub-Committee will include: donors, recipient countries and “such other representatives designated by the Trust Fund Committee for this purpose” Forest Investment Fund/Program: Indicative Building Blocks

  11. Country eligibility: Following FCPF modalities tentative selection criteria could be: • Relevance of country in REDD context • Geographic and biome balance • Variety of approaches to ensure learning objective Guidance expected from consultation process Forest Investment Fund/Program: Indicative Building Blocks

  12. Programming: • Based on expression of interest and following country eligibility criteria, governing body of FIF will select a group of pilot countries. • In pilot countries, MDBs, UN agencies and GEF will assist recipient country through joint programming to identify investment proposals. • Possible mechanisms include FCPF and emerging GFP Forest Investment Fund/Program:Indicative Building Blocks

  13. Forest Investment Fund / Forest Carbon Partnership Facility / UNFF Forest Financing Mechanism (plus: Private Sector & other Forest Financing Mechanisms) Multistakeholder:WB, GEF, UNFF, Trust Funds, 8x8, etc. Financing Reference Group (RG) Supervisory Board of GFP Members: mainly from southern countries, wide variety of backgrounds Programming GFP Catalyst Group: WB, FAO, IUCN, IIED Facilitation of Country Driven Processes; in country governance and organizations (initially 5-6 countries) GFPConnection with other Instruments Other programming tools in other countries

  14. Further Development of GFP • DGF-Grant, 15 million for the next 3 years • Catalyst Group (CG) with committed institutions which have the ability to facilitate in-country, bottom-up programming processes • Establish a Reference Group • Facilitate in-country, multistakeholder partnership processes to identify and formulate menus of demand-driven forest programs for global investment (initially 5-6 countries) GFPProgramming

  15. Next Steps: Roadmap • Key documents: • Mapping exercise • Building blocks • Proposal • Key steps: • Consultation with governments, NGOs, civil society and private sector • Continued consultations w/ UN agencies, GEF and UNFCCC • Two design meetings (early October and December 2008) Forest Investment Fund/Program: Next Steps

  16. THANK YOU! For more information: pverkooijen@worldbank.org Lets make it happen!

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