| Project Detail |
The development objective of Oromia Forested Landscape Program - Emission Reduction Project for Ethiopia aims to generate measured, reported and verified Emissions Reductions (ER) from reduced deforestation, forest degradation, enhancement of forest carbon stocks (REDD+), agriculture and other land use sectors that meet the Greenhouse Gas (GHG) accounting requirements of the BioCarbon Fund (BioCF) Initiative for Sustainable Forest Landscapes (ISFL) in the Oromia State and will distribute ER payments in accordance with an agreed benefit sharing plan. This project has two components. The first component, Emission Reductions payments distributed in accordance with agreed Benefit Sharing Plan, includes the following sub-components: (i) Payment for Emission Reduction Credits; and (ii) Distribution of ER payments as per a Benefit Sharing Plan (BSP). 2) The second component, Comprehensive Measurement, reporting and verification (MRV) system and program management, including E&S Risk Management system, has the following sub-components: (i) Program Management including E&S standards Implementation and communication; and (ii) Improvement of the Comprehensive Measurement, Reporting and Verification system.
The project will generate measured, reported and verified Emissions Reductions (ER) from reduced deforestation, forest degradation, enhancement of forest carbon stocks (REDD+), agriculture and other land use sectors that meet the GHG accounting requirements of the BioCF ISFL in the Oromia State and will distribute ER payments in accordance with an agreed benefit sharing plan.
Key Details
Project Details
Project ID
P151294
Status
Active
Team Leader
Nicholas Stephen Zmijewski,Nigel Ross Hughes
Borrower 2
Federal Democratic Republic of Ethiopia
Country
Ethiopia
Approval Date
(as of board presentation)
February 2, 2023
Total Project Cost 1
US$ 61.95 million
Implementing Agency
Ethiopia Forest Development
Region
Eastern and Southern Africa
Fiscal Year 3
2023
Commitment Amount
US$ 0.00 million
Environmental and Social Risk
Substantial
Last Update Date
January 20, 2023
Closing Date
N/A
Consultant Services required
Yes
Last Stage Reached
Bank Approved |
