Tanzania to conclude an emission reduction purchase agreement with the World Bank.
06 May 2014 In green news, Tanzania is preparing to conclude an emission reduction purchase agreement with the World Bank, which allows citizens to get compensation for climate friendly actions including conservation of forests.
World Bank Senior Communication Officer for Climate Change and Finance Department, Ms Isabel Hagbrink, said negotiations into the deal are at final stages.
Upon completion of the deal, Tanzania will become the fourth country in East Africa to sign up to the arrangement, which allows World Bank buy carbon credits from developing countries,with money from the Organization for Economic Cooperation and Development (OECD).
Since 2000, these initiatives have reduced the equivalent of 187 million tons of carbon dioxide emissions through the projects they support.