Over the past several weeks, we have made headway in our efforts to reduce deforestation and promote sustainable land use as part of a broader World Bank Group approach to combat climate change. Partnering with the Forest Carbon Partnership Facility (FCPF), the Democratic Republic of Congo has taken a major step by assessing its readiness for a large-scale initiative in which developing forested countries keep their forests standing and developed countries pay for the carbon that is not released into the atmosphere. Likewise, other countries in the 47-country FCPF partnership are making strides in their efforts to prepare for programs that mitigate greenhouse gas emission and support sustainable forest landscapes.
This approach is also known as REDD+, or reducing emissions from deforestation and forest degradation. Active REDD+ programs can help reduce the 20 percent of carbon emissions that come from forest loss and simultaneously provide support to the 60 million people, including indigenous communities, who are wholly dependent on forests.
Photo: IDA16 Mid-Term Review, right to left, President Alassane Ouattara, Republic of Côte d’Ivoire, President Ellen Johnson Sirleaf, Republic of Liberia, and Axel van Trotsenburg, Vice President of the World Bank, Concessional Finance & Global Partnerships. Credit: Abidjan.net
Two weeks ago, a consortium of donor and borrower countries met to take stock of progress on meeting commitments made by IDA, the World Bank's fund for the poorest countries. (Not sure what IDA is? Click here.) This meeting was an important check-in at the half-way point in what is known as IDA16—a three-year period running from July 1, 2011 to June 30, 2014, during which special grant and soft loan financing is made available for life-changing works in the world's 81 poorest countries.
The meeting was hosted by Côte d'Ivoire, our first mid-term meeting held in a client country. The talks were attended by IDA Deputies and Borrower Representatives, individuals appointed to represent their governments on IDA.
ABIDJAN, Cote d’Ivoire – At a jobs training center in this key capital city in West Africa, a young man showed me his newfound skills as an electrician. At a workshop, light bulbs flickered on and off. And then he told me something really important:
“It’s been 10 years since I graduated with my secondary school degree, and because of our conflict, I have never held a job. So this is a blessing to me,” said the young trainee. “But my brothers and sisters and so many people haven’t had this opportunity. I wonder how they can get jobs, too.”
At a recent press conference, three African finance chiefs chastised international credit rating agencies for failing to forecast the global financial crisis and challenged international financial institutions to do a better job of monitoring the global economy and of holding rich and developing countries accountable in the same way.
The Ministers from Zambia, Cote d’Ivoire and Tanzania spoke about the crisis and its effect on Africa. Mustafa Mkulo, Tanzania’s Minister for Finance and Economic Affairs, said:
"This crisis has come when African governments have taken broad based measures to reform their economies, followed by significant achievements. It is now threatening to wipe out our gains of the past ten years and disrupt all our plans for further progress."
- Press Release: African Ministers Outline Impact of Crisis on their Countries
- Website: The Financial Crisis in Africa
- Blog: Africa Can End Poverty