Bhutan for Life (GCF-FP050)

Countries
  • Bhutan
Where the impacts of the investment may be experienced.
Financial Institutions
  • Green Climate Fund (GCF)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Ministry of Agriculture and Forests
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, etc.
Grant Amount (USD)
$ 26.56 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 118.26 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ GCF website

Updated in EWS Nov 7, 2017

Disclosed by Bank Sep 11, 2017


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Project Description
Securing Bhutan's protected areas, comprising 51% of its territory, thus preventing deforestation and preserving resources. Bhutan is committed to the bold goal of remaining carbon neutral, as re-stated in its NDC under the Paris Agreement. Much of Bhutan is managed under a network of Protected Areas (PAs), which are central to ensuring that at least 60% of the country remains under forest cover. However, many of these areas are coming under increasing pressure from a combination of economic development in surrounding areas, illegal extraction of resources, and the adverse impacts of weather-related events such as landslides, floods, and forest fires. Bhutan for Life will support improved management of the country's PAs, providing time and resources for the government to secure long-term revenues to maintain the improvements. Activities under the programme will increase forestry and land use climate mitigation, and support ecosystem-based adaptation to improve natural resource management and livelihoods, and enhance biodiversity.
Investment Description
  • Green Climate Fund (GCF)
Contact Information
PROJECT CONTACTS World Wildlife Fund, Inc. (WWF) David McCauley Tel: +1 202 293 4800 Pablo Gutman Tel: +1 202 293 4800 ACCOUNTABILITY MECHANISM OF GREEN CLIMATE FUND The Independent Redress Mechanism (IRM) is the independent complaint mechanism for a person or people who have been or believe they are likely to be adversely affected by a project or programme funded by the Green Climate Fund. If you submit a complaint to the IRM, it may seek to address the issues raised by facilitating a problem-solving dialogue or, if that is not possible, conducting an independent investigation into whether the GCF has complied with its environmental and social policies. The IRM is newly created and is still in the process of developing its procedures and website. More information about the IRM and how you can file a complaint is forthcoming. You can contact the IRM at irm@gcfund.org.