€1.2M EU-funded project to boost Guyana’s climate finance, reforestation efforts

Backed by €1.2 million from the European Union (EU), Guyana is set to roll out a landmark three-year project in partnership with the Global Green Growth Institute (GGGI) and the Guyana Forestry Commission (GFC), to expand reforestation, strengthen climate finance, and advance its Low Carbon Development Strategy (LCDS) 2030. Set to start in October 2025 and conclude in September 2028, the project will empower stakeholders to mobilise climate finance and utilise innovative financing tools. These efforts aim to expand reforestation and restoration projects, generate carbon credits, and position Guyana as a leader in climate action and sustainable development.

The project also aims to increase access to climate finance for Guyana, advancing sustainable development and climate resilience through CO2 removals and payment for ecosystem services (PES) projects. Interventions will enhance ecosystem resilience, promote sustainable land management through reforestation and restoration initiatives, and increase knowledge and awareness of climate finance instruments identified for Guyana. These will support sustainable development under the LCDS 2030 and potentially the Global Biodiversity Alliance.
This initiative seeks to address challenges with slow reforestation and restoration, which have been caused by interconnected barriers that include limited funding, low understanding of climate finance mechanisms, the absence of a comprehensive restoration plan, and the need for tested nested project approaches to enable scalability and attract private sector support.

Speaking at the launch of the project on Friday morning, Commissioner of the GFC Edward Goberdhan outlined key components of the €1.2 million EU-funded initiative. “This project will add to the legal and sustainable management of our forests and we are happy that this can lend support. We want to thank GGGI for being a great partner in the sustainability of Guyana. This project falls directly under the Government’s vision of the Low Carbon Development Strategy and many of you would have seen that some of these areas have already started through Government plans like land restoration and through the support of other agencies.”
He added that this project will expand on the work already being done, and financing has been secured for some of these programmes. Meanwhile, the Ambassador of the EU to Guyana, René Van Nes, explained that the project’s delayed start was due to several factors. “We were talking about this project for as long as I have been in the country. Why did it take so long? Because we wanted to do it well. We had to sort out how we could implement it in the best possible way, and GGGI did not just return to their offices but rather used their time to build this process and build a relationship with the Government.”
Meanwhile, he lent his perspective towards the importance of environmental initiatives like these being backed monetarily.
“Conservation without money is just conversation – you cannot work in this area without financing. Making sure that financing is in place is really important. We pledged to provide €30 billion, and we are on track to deliver that between 2021 and 2027. Within this framework, you can see the support we have provided to Guyana.” In an interview with the Guyana Times, GGGI’s Regional Director, Ferruccio Santetti, outlined the organisation’s overall mandate and highlighted how its work will support Guyana’s green development.
“GGGI has a strong focus on finance mobilisation in this industry – if we can call it that – of international cooperation. There is always a lot of focus on plans, strategies, and policies, but GGGI really distinguishes itself through its emphasis on mobilising finance. We not only develop plans and design projects but also ensure that financing reaches the projects and, importantly, arrives at the country level.”
He highlighted that GGGI specialises in the design and structuring of innovative financial instruments. To date, the organisation has supported its member states to mobilise over US$15 billion towards long-term sustainability priorities.
“We currently manage a portfolio of over 60 projects across the region, many of which are in Guyana. Guyana is one of GGGI’s fastest-growing country programmes. We have a team of 15 people here and an annual budget that has been growing exponentially in recent years. My colleagues from the country team can provide more information about the structure and size of the country portfolio,’ he added.