WB And UN Find New Ways To Support Sustainable Development Investments

14 Sep 2016
WB And UN Find New Ways To Support Sustainable Development Investments

On 13 September 2016, Ms. Julia Bucknall, the Director for Environment and Natural Resources at the World Bank and Ms. Jennifer Topping, the Executive Coordinator of the MPTF Office, signed an Administration Agreement for the Central African Forest Initiative (CAFI) MPTF. This is the first time a UN Multi-Donor Trust Fund is able to transfer funds directly to the World Bank as an implementing organization. It will allow the immediate transfer of preparatory grants. that will support the governments of the Central African Republic, the Republic of Congo and Cameroon in developing their REDD+ Investment Plans. Furthermore, the terms of the Administration Agreement will also allow CAFI funding to the Democratic Republic of Congo National Fund for World Bank funding proposals. Beyond the practical terms, this new agreement shows how the WB and UN are strengthening their cooperation to effectively support sustainable development investments.

 

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