Wednesday, September 23, 2020

Breakthrough in Norway-Guyana forest deal after eight-year delay

Norwegian aid funds amounting to NOK 600 million, which have been languishing at the Inter-American Development Bank (IDB), may soon be released to pay for a 30-40 megawatt solar energy project in Guyana. This will be Norway’s first payment to Guyana since 2011, as part of a climate forest agreement signed ten years ago. The long delay could cost Guyana over USD 25 million due to the weakened Norwegian currency.

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