The government has signed a Financing Agreement with the African Development Bank (AfDB) amounting to Euro 4.59 million that will go towards forest conservation.The agreement was signed on behalf of the Congo Basin Forest Fund (CBFF) by the Minister of Finance and Economic Planning, John Rwangombwa, and AfDB Resident Representative, Negatu Makonnen.It will go towards supporting the Sustainable Woodland Management and Natural Forest Restoration project in Rwanda.The objective of the Sustainable Woodland Management and Natural Forest Restoration is to contribute to a reduction in deforestation and poverty in the Congo Basin.According to the finance ministry, the project is aimed at increasing forest cover and improving the living conditions of dwellers in forest areas.“The main objective is to create basic conditions that would win Rwanda the eligibility for carbon market benefits and payment for ecosystem services. The duration of the project will be three years,” the ministry said in a statement.“The direct beneficiaries of this project will include, among others, about three million people who will be provided with the forest and/or fruit seedlings”. 400 vulnerable persons will benefit from private micro-woodlands, while 1,200 farmers will be trained, of whom 200 will be encouraged and supported to form community cooperatives.Rwanda has embarked on major reforestation programmes with the aim of becoming a green economy. Among the projects being restored is Gishwati Forest, which had been degraded.AfDB is one of the major financiers of development programmes in Rwanda.
