The purpose of this Technical Cooperation (TC) is to implement a monitoring verification and reporting (MRV) system for mangrove ecosystems that provides a science-based data platform on the sequestration and release of blue carbon in participant countries. In 2019, the IDB, with support from the Department for Environment, Food and Rural Affairs (DEFRA), established the "UK Blue Carbon Fund" (the Fund) to finance projects that will help reduce climate change's negative impacts increasing carbon sequestration. The regional MRV is to be used to help monitor the progress of the projects that are to be implemented under the Fund. With this MRV system, the blue carbon projects of the Fund will be able to: (i) Improve the valuation of ecosystem services provided by mangrove ecosystems; (ii) Potentially include blue carbon data in the Nationally Determined Contributions (NDC), Reduced Emissions from Deforestation and Forest Degradation (REDD+) schemes, Sustainable Development Goals (SDG) programs, UNFCCC National Communications and carbon markets programs; (iii) Utilize an MRV system for results-based payments under a reforestation program. There is a growing trend to support or encourage results-based actions for reforestation, conservation, or reduced deforestation efforts. To effectively participate in or take advantage of these types of efforts, a key element of the results-based payment scheme will be a fully functional MRV.

Project Detail

Country

Regional

Project Number

RG-T3409

Approval Date

August 26, 2022

Project Status

Implementation

Project Type

Technical Cooperation

Sector

ENVIRONMENT AND NATURAL DISASTERS

Subsector

CLIMATE CHANGE MITIGATION POLICY

Lending Instrument

-

Lending Instrument Code

-

Modality

-

Facility Type

-

Environmental Classification

Likely to cause minimal or no negative environmental and associated social impacts

Total Cost

USD 1,136,000.00

Country Counterpart Financing

USD 140,000.00

Original Amount Approved

USD 996,000.00
Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
ATN/BB-19466-RG Sovereign Guaranteed USD - United States Dollar UK Blue Carbon Fund Nonreimbursable
Operation Number ATN/BB-19466-RG
  • Lending Type: Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: UK Blue Carbon Fund
  • Financial Instrument: Nonreimbursable

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 Implementation Phase
https://www.iadb.org/document.cfm?id=EZSHARE-1069022572-32
TC Document
Technical Cooperation Document.pdf
Jan. 31, 2023
English
https://www.iadb.org/document.cfm?id=EZSHARE-1069022572-31
TC Document
Procurement Plan.pdf
Jan. 31, 2023
English
https://www.iadb.org/document.cfm?id=EZSHARE-1069022572-29
TC Document
Results Matrix.pdf
Jan. 31, 2023
English
https://www.iadb.org/document.cfm?id=EZSHARE-1069022572-28
TC Document
Request from the Client.pdf
Jan. 31, 2023
English
https://www.iadb.org/document.cfm?id=EZSHARE-2056220512-9162
Technical Cooperation Agreement
Agreement - Regional Blue Carbon Monitoring, Reporting and Verification Mechanism.pdf
Jan. 10, 2023
English
 Preparation Phase
https://www.iadb.org/document.cfm?id=EZSHARE-1069022572-12
TC Abstract
Technical Cooperation Abstract.pdf
Oct. 01, 2021
English

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