Costa Rica REDD-plus Results-Based Payments for 2014 and 2015 (GCF-FP144)

Countries
  • Costa Rica
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.
Voting Date
Nov 12, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
government of Costa Rica and United Nations Development Programme (UNDP)
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • Climate and Environment
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.
Investment Amount (USD)
$ 54.10 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)
$ 54.10 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ GCF website

Updated in EWS Oct 21, 2020

Disclosed by Bank Oct 6, 2020


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

According to the implementing agencies, the project seeks to implement the National REDD + Strategy through the strengthening of Payments for Environmental Services (PES) as an instrument to guarantee the conservation of forests and improvement of carbon stocks through reforestation, tree plantations, agroforestry and silvopastoral systems, as well as optimizing fire prevention measures, focusing on three main products:
• Enabling conditions with two activities, ensuring the implementation of the safeguards provisions and monitoring and reporting on the implementation of REDD.
• Payment for environmental services (PES) and forest fire fighting, focusing on three activities:
- Strengthening the Payment for Environmental Services in all its existing modalities (conservation and reforestation PES).
- Special payment for Environmental Services in Indigenous Territories.
- Prevention of forest fires.
• Projects management.
This program contributes to reiterate the political will to reduce emissions, conserve forest carbon stocks and increase mitigation actions, while seeking to eradicate poverty, as well as promoting entrepreneurship among micro, small and medium producers and landowners.

Investment Description
  • Green Climate Fund (GCF)

REDD-plus Results-Based Payments

Contact Information

UNDP Costa Rica
Office Center La Virgen #2, from American Embassy 300m south and 200m south east.
Pavas, San José
PO BOX: 4540-1000
Republic of Costa Rica

UNDPs Stakeholder Response Mechanism

https://www.undp.org/content/undp/en/home/accountability/audit/secu-srm/stakeholder-response-mechanism.html#:~:text=The%20Stakeholder%20Response%20Mechanism%20helps,successfully%20resolved%20issues%20of%20concern.


Ministry of Environment and Energy (MINAE)
Calle 25, Av. 8-10,
San Jose,
Republic of Costa Rica