COP 30 Belem, Brazil

Global partners commit 2.5 billion dollars for Congo Basin

Germany, the EU, the World Bank and philanthropic partners like Bezos Earth Fund would be financing projects in the Congo Basin relating to sustainable management, biodiversity conservation and community resilience to the amount of USD 2.5 billion.

This commitment was taken, November 17, during the Congo Basin Day holding at the COP 30 rendezvous in Belem, Brazil.  

Germany has promised to provide 450 million Euros by 2030, while the European Union intends to continue investing for such initiatives to the tune of 350 million Euros. The World bank is preparing a first phase USD 1 billion concessional package to strengthen governance; enable green value chains and improve community well being. So far, Philanthropic partners on their part have already started supporting with USD 110 million already invested.

These commitments are really encouraging for the Congo Basin which is increasingly threatened by foreign multinationals determined to make profits out of the very rich natural resources at the expense of the indigenous peoples and local communities protecting the area. Reason why the Green Development Advocates and the other environmental defenders across the various panel discussions have had one message resonating across: There is no climate justice without justice for indigenous peoples and local populations.  

While the commitments for funding are very welcome, it becomes as well imperative that these funds are well articulated in their disbursements to ensure that the IPLCs to whom they are destined for benefit directly.