GCF Members Sign Memorandum Of Understanding With The Development Bank of Latin America (CAF)
GCF states and provinces across Latin America (Brazil, Mexico, and Peru) signed a landmark Memorandum of Understanding with the Development Bank of Latin America (CAF) at the recent GCF annual meeting in Guadalajara, Mexico. This agreement commits the GCF members and CAF to working together through 2020 to achieve three objectives. First, the GCF and CAF will construct and implement regionally integrated projects that bring GCF jurisdictions together around mutual goals such as sustainable agricultural and supply chain development; agroforestry; low emissions development, including ecotourism and green economy initiatives; Reducing Emissions from Deforestation and Forest Degradation (REDD+); forest restoration; rural development and social and environmental safeguards; forest zoning and environmental registry development; and monitoring, reporting, and verification systems integration. GCF members and CAF will also develop diverse co-financing and co-funding strategies for these projects, and will also work to strengthen subnational, national, and international political alliances for scaling up projects through 2020, thereby increasing the impact on forest conservation, low emissions development, and climate change mitigation and adaptation across Latin America.