3 January 2014
The Climate Change Division (CCD) has started finalising the pre-requisites to receive $3.8 million Readiness Fund from Forest Carbon Partnership Facility (FCPF) to combat climate change and tropical deforestation. Environmental and climate change experts, however, suggest some specific measures to ensure transparency and fairness in utilisation and disbursement of the funds.
The FCPF is the World Bank administered facility that is set up to compensate developing countries for reduction in carbon-dioxide emission through preserving their forests. As per agreement with the World Bank, an assignment account for the project will be opened after getting approval of the Accountant General of Pakistan, Finance Division and the Federal Government.
Read more from Business Recorder