Côte d'Ivoire advances climate finance and reforestation initiatives

Côte d'Ivoire is advancing its climate strategy through new financial distributions to local communities and strategic partnerships to mobilize environmental funding.

Environment Minister Abou Bamba officially distributed over 62.8 million FCFA in carbon credits to the villages of Gnato, Bliéron, and Pimé in the southwest. This payment is part of a larger 88.8 million FCFA allocation under the REDD+ strategy, sponsored by the World Bank, aimed at reducing emissions around Taï National Park. The funds reward these communities for voluntarily establishing a 1,059-hectare natural reserve instead of converting the land for agriculture. The funds are earmarked for local development, including poultry, fish farming, and pig farming.

Additionally, the Ministry of Environment signed a memorandum of understanding with the TeraVert firm to assist in mobilizing financing for major climate projects. This includes a $500 million integrated program targeting the agriculture-forest-energy-waste-finance nexus in central and northern Côte d'Ivoire. The partnership also supports ‘Veille Verte’, a $10 million digital environmental monitoring system designed to allow citizens to report environmental incidents in real time.