CAFI: The Letter of Intent with Gabon

 

 

Please download:  The Letter of Intent (LOI)

 

 

The Letter of Intent (LOI) between the Government of Gabon and CAFI establishes a partnership to implement the National Investment Framework of Gabon. The LOI is signed by Gabon Minister of Economy, Norway’s Minister of Climate and the Environment and the Multi Partner Trust Fund Office of UNDP. A ceremony was held in Paris on 27 June 2017, and highlighted the ways in which the LOI will help the country deliver on its forthcoming Nationally Determined Contribution (NDC) under the Paris Agreement.

 

 

The LOI sets out the respective obligations of the parties within this partnership. Gabon commits to reduce its greenhouse gas emissions from forests. As will be reflected in its forthcoming NDC to UNFCCC, Gabon aims to reduce gross emissions by 50% below 2005 level by 2025, which implies a reduction of more than 50% in the forest sector. CAFI commits to mobilise and secure funding to support Gabon in implementing its National Investment Framework and thus achieve these reductions.

 

 

The three objectives in the LOI, below, are in line with Gabon's National Investment Framework. Each objective is associated with time-bound milestones, whose independent verification will trigger the second tranche of disbursement. Reports on all milestones will be regularly updated on the website...

 

 

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