There have been considered resource mobilization mechanisms for environmental priorities with WB Team

25-09-2018

It took place a joint consultation over environmental problem-solving processes apropos of financial challenges with the officers of the RA Ministries and the World Bank in the Ministry of Nature Protection.
   In his greeting remarks, Minister of Nature Protection Erik Grigoryan presented the environmental priorities and the policy conducted in that direction. “Debt-for-nature swaps mechanism   has been modified as rather, since the application of this instrument is conditioned by global environmental responsibility – not by the repayment procedure of foreign debt -  thus we are glad that the World Bank has backed the initiative'': the Minister of Nature Protection noted and expressed confidence that as a result of collective work of the sides, a roadmap of action will be developed.
World Bank Yerevan Office Head Sylvie Bossoutrot reaffirmed the willingness of the Bank to assist Armenia and referred to the key components of the "Mobilizing finance for environmental priorities" project. Lead Environmental Consultant at World Bank  Adriana Damianova illustrated the project,  spotlighting  pivotal environmental risks of Armenia, measures in a bid to combat them with a specific focus on the mechanisms of attracting internal and external financial resources. 
Also, the attendees were briefed that the Armenian side considers the commitments assumed under Paris agreement - to make 20.1% of the territory of Armenia forestry by 2050 - which is a measurable process; thereby it is envisaged to attract several hundred million dollars for its accomplishment. 

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