National Forestry Financing Fund (Fonafifo)

The National Forestry Financing Fund, created by Forest Act 7575 in 1995, is the governmental institution where the REDD Secretariat is hosted and where it is leaded the process in Costa Rica.

The general objective of Fonafifo is to finance small and medium producers for the handling of processes of reforestation, forestation, greenhouses and agroforestry systems, and for the recovery of deforested areas and the necessary technological changes in the use and industrialization of forest resources.

Fonafifo also has the responsibility to raise funds for financing the payment of environmental services provided by forests, forest plantations and other necessary activities to strengthen the development of the natural resources sector. These services are defined in the Forest Act.

REDD strategy in Costa Rica is based on the PES program and, therefore, its strategic objectives and activities are linked to REDD measures.

Fonafifo has proven to be a key player in the Costa Rica Climate Change Strategy and in reversing the process of deforestation in the country, contributing to the achievement of 53.4% of coverage in 2010, compared to the 21% reached in the eighties.

Due to the success of their activities and the international recognition, Fonafifo has been able to access cooperation resources to develop new and innovative strategies to continue to favor the country and the planet.

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