Madagascar, World Bank sign agreement to reduce poverty, deforestation and carbon emissions
Madagascar’s Ministry of Finance and Ministry of Environment, Ecology and Forests signed an agreement with the World Bank’s Forest Carbon Partnership Facility (FCPF), unlocking up to $50 million for efforts to reduce carbon emissions from deforestation and forest degradation between 2020 and 2024. With this Emission Reductions Payment Agreement (ERPA) in place, Madagascar is expected to reduce 10 million tons of carbon dioxide emissions from the country’s rainforest-rich eastern coast. “Reducing emissions related to deforestation and forest degradation is a crucial part of Madagasca...