Costa Rica wins World Bank Carbon Fund go-ahead
Costa Rica is the first country in the world to receive an approval from the World Bank for a Carbon Fund, which will allow the country to have access to $63 million for the Payment Program for Environmental Services.
The money will come from the sale of 12 million tons of carbon capture by the country’s forests, a process known as carbon offset.
Costa Rica has invested at least $300 million and submitted close to 900,000 hectares to the PSA program, which represents 17 percent of the national territory.
Source: Inside Costa Rica