Mexico received US$392 million, of which US$350 million is a loan from the World Bank and US$42 million from the Forest Investment Program (FIP) for developing woodlands. Source: Fox News Latino
The Environment and Natural Resources Secretariat said that the funds will be channeled through the National Forestry Commission, or Conafor, to finance a variety of forestry projects aimed at fighting climate change.
The US$42 million granted by the FIP is a combined loan plus a donation from the organization that counts Australia, Denmark, Japan, Norway, Spain, Britain and the United States among its members.
The director of Conafor, Juan Manuel Torres Rojo, said that with these funds the Woodland and Climate Change Project will aid peasant communities that participate as volunteers in forestry activities.
The program also includes payment for environmental services, land use planning, sustainable protection and management, as well as the processing and marketing of timber and non-timber assets.
He added that the project is expected to benefit more than 4000 communities nationwide.
