Original disclosure @ GCF website
Updated in EWS Oct 5, 2022
Disclosed by Bank Sep 26, 2022
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The purpose of the EBBF project is to achieve effective mitigation results by investing in eco bio businesses that support the sustainable management and conservation of Peruvian forests. EBBF aims to contribute directly to the implementation of national policies to carry out REDD+ actions and eco bio businesses in the Peruvian Amazon region.
The EBBF will provide technical and financial support to eco bio businesses to promote change towards sustainable practices, which will contribute to increasing the value of standing forests, making them financially viable.
The categories of activities that can benefit from the initiative include: Agroforestry, forest use for timber purposes, non-timber forest use, ecotourism and wildlife management.
The EBBF will be established as an open fund and will be capitalized with resources from the GCF and PROFONANPE, while its long-term sustainability will be ensured through repayments of eco bio business grants (EBBs) and possibly payments based on in assigned REDD+ results (RBP), in case Peru qualifies for results-based payments in the future.
The EBBF will also provide specialized technical assistance to strengthen technical and institutional capacities, which will facilitate the implementation, monitoring and reporting of eco bio businesses (EBBs), in line with Peru's national REDD+ framework.
Component 1: Strengthening of REDD+ governance, institutional and regulatory systems. This includes the strengthening and implementation of 3 pillars of REDD+: (i) the Forest Cover Monitoring Module, (ii) Reference Levels for Forest Emissions, and (iii) safeguard mechanisms.
Component 2: Establishes the Financial Facility for Eco Bio Businesses in the Amazon (EBBF) and reimbursable grants.
The EBBs will receive technical and financial support (reimbursable grants) for the expansion/adoption of sustainable agricultural and forestry practices.
EBBF grant funding will benefit a minimum of 55 EBBs during the first ten years of operation with an average volume of USD 90,000.
The funds received from the reimbursement of the grants to the EBBF will be reused following the same procedures as for the award of the initial grants.
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