The Government of Guyana yesterday signed a US$45 million agreement with the World Bank, for the Coastal Adaptation and Resilience (CARes) project as it continues to ramp up efforts to strengthen the country’s flood adaptation and resilience.
According to a Ministry of Finance press release, the CARes project is the latest and second largest investment to date being financed through the Guyana REDD+ Investment Fund (GRIF) established by the Government pursuant to the Guyana-Norway partnership under the original Low Carbon Development Strategy (LCDS), utilising the remaining portion of the over US$220 million earned by Guyana for its forest climate services.
This deal was announced on June 10th this year.