Currently, the main source of REDD funding in Guyana is via its Memorandum of Understanding (MOU) with Norway, that provides finance of up to USD250 million between 2010 and 2015. This finance is placed into the Guyana REDD+ Investment Fund (GRIF), which then funds projects and activities under the LCDS. Currently funds for three projects have been disbursed, USD 7 million for institutional strengthening, USD 6 million for the Amerindian Development Fund and USD 5 million for Micro and Small Enterprise Development.
Further finances earmarked include USD 7.5 million for titling and demarcation of Amerindian Lands, USD 2 million for the rehabilitation of Cunha Canal, and USD 80 million for equity in the Amaila Falls Hydropower facility.
It should be noted that while Norway is currently the only contributor to the GRIF, it is planned that Guyana will partner with other countries in similar arrangements, with the GRIF being the mechanism through which such payments would be disbursed. Guyana is also seeking other partners to provide finance to activities and the GRIF. One source is the FCPF, through which Guyana is expected to receive a total of USD 3.6 million to implement activities outlined in its Readiness Preparation Proposal (R-PP). However, as previously mentioned, to date, Guyana has received no funds from the FCPF. Conservation International has helped to harness finance from the German Development Bank (KfW) to assist the Guyana Forestry Commission in developing and implementing its Monitoring, Reporting and Verification System Roadmap, along with supporting it directly. In addition to this, the Global Canopy Programme has supported the development of Community MRV. The Inter-American Development Bank (IDB) has provided financial support to build capacity in the Office of Climate Change and both the United States Agency for International Development (USAID) and the International Tropical Timber Organisation (ITTO) have provided financial and technical support to the Guyana Forestry Commission in building capacity for MRV. Guyana is also providing in-kind contributions to these projects.