Dominican Republic. FCPF REDD+ Readiness Preparation Project

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The development objective of the Restructuring FCPF REDD+ Readiness Preparation Project in Dominican Republic is to assist the Dominican Republic to design and carry out the Readiness Preparation Activities by supporting the preparation of the Recipient’s REDD+ Strategy through a participatory and inclusive process. The purpose of this restructuring request is for an extension in the Closing Date of the operation. In doing so, the extension will build upon the achievements to date under the original grant to strengthen the capacity of the Dominican Republic to transition from REDD+ preparation to implementation. This is of particular importance given the expectation that the Dominican Republic is expected to sign an Emission Reductions Payment Agreement (ERPA) for results-based payments for REDD+ from the FCPF Carbon Fund by the end of 2020 and report on Emission Reductions (ERs) for the first time by the end of 2021. An extension of the Readiness Project will be critical for providing targeted capacity building support to ensure that the country is sufficiently ready to execute REDD+ implementation and to successfully report and receive results-based payments for REDD+ ERs under its FCPF ER Program (P161182). The extension will allow the country to continue to finance the costs associated with scaling up and expanding the activities of the Readiness Project under Component 1 (REDD+ Readiness Organization and Consultation); Component 2 (REDD+ National Strategy Preparation); Component 3 (National Forest Reference/Emission Level); Component 4 (Monitoring Systems for Forests and Safeguards); and Component 5 (Monitoring and Evaluation Framework and Grant Management).