October 17, 2007

$300 million for Forests

Some forests around the world could become eligible for some serious grants from the World Bank. The plan is to use the cash in order to prevent deforestation, which causes so much damage to local eco systems.

The program is named The Forest Carbon Partnership Facility (FCPF) and will initially be providing up to $300 million. This is because deforestation accounts for around 20% of the greenhouse gas emissions. There are twenty countries that are already looking to apply for funding.

Source [Mongbay]

Filed Under Business, Economy, Payments 

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