GEF Grant: USD  / Co-financing: USD

The project contributes to national efforts in mitigating climate change through on-the-ground activities of improving forest carbon inventory and monitoring efforts; increasing carbon sequestration through interplanting of native species; and reducing emissions by improved forest and land management, including livestock and pasture management. Local people will be extensively involved and their livelihoods made more sustainable. Some appropriate small enterprises are supported. The location in Veraguas Province around a National Park will help protect the Park from continued degradation.

In terms of cost-effectiveness, the cost is $4.22 per tCO2 for direct benefits, and for areas with some native tree establishment the cost is $411/ha. In total, this project will likely mitigate about 355,409 metric tonnes of CO2, and establish an inventory system that is coordinated with national activities.

A detailed budget was provided for the project management costs, along with additional text explaining the costs.

Regarding the new policy on project implementation starting dates, in email dated Nov 23, 2011, 204PM: the elapsed time between CEO endorsement and start of project implementation is approximately 6 months. Given that this is close to 4 months, and that this CEO endorsement is on its second review already by the time this new rule came out, I ask that 6 months until start be accepted.