19 November 2014: The Climate Investment Funds (CIF) has released its semi-annual operational report on the Forest Investment Program (FIP) highlighting the completion of the programming process in eight countries and announcing that US$595 million has been pledged by FIP.

The report further notes that an expected US$741 billion in co-financing will also be mobilized as a result of FIP funding, with the majority supporting capacity building for REDD+. The dedicated grant mechanism for indigenous peoples and local communities is, according to the report, progressing well with US$50 million in allocated resources.

With regard to implementation, the report states that Burkina Faso, the Democratic Republic of the Congo (DRC) and Mexico have already received funding approval covering the entire amount of their total allocation. Examples of goals and objectives expected to be achieved with support from FIP include: in Brazil, the adoption of sustainable land management (SLM) on 7.8 million ha; in DRC, the achievement of an emission reduction of 18 million tons of carbon equivalent (CO2e) over 30 years; and in Peru, the protection and sustainable use of 4.2 million ha of mountain and wetland forests.

The report covers the period from 1 April 2014 to 30 September 2014 and was considered by the FIP Sub-committee at its thirteenth meeting. [Publication: FIP Semi-annual Operational Report] [Presentation: Semi-annual Report on FIP Operations]