Ghana has received US$4.86 million from a World Bank trust fund for reducing emissions from deforestation and forest degradation.

The bank’s Forest Carbon Partnership Facility paid the sum to the Ghanaian government for reducing 972 456 tons of carbon emissions for the first monitoring period under the programme (June to December 2019), according to the World Bank.

‘This payment is the first of four under the country’s Emission Reductions Payment Agreement [ERPA] with the World Bank to demonstrate potential for leveraging results based payments for carbon credits,’ says Pierre Laporte, World Bank country director for Ghana, Liberia and Sierra Leone. ‘Subject to showing results from actions taken to reduce deforestation, Ghana is eligible to receive up to US$50 million for 10 million tons of CO₂ emissions reduced by the end of 2024.’

Ghana is one of 15 countries that have signed ERPAs with the World Bank.

7 February 2023
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