Gov’t, World Bank discuss ways to boost forestry sector.

The recent meeting by the two officials was to focus on a new regional initiative aimed at transforming the forest sector in the countries of the Congo Basin.

The initiative by the World Bank will include Cameroon, the Central African Republic, the Democratic Republic of Congo, DRC, the Republic of Congo, Equatorial Guinea, and Gabon. 

Speaking during the meeting, the World Bank Deputy Director of Operations in Cameroon said the meeting also focused on setting priorities for local wood processing and supporting private sector growth to boost the entire forestry sector in Cameroon.

“We are starting discussions with the Ministry of Forestry about a new World Bank initiative to support sustainable forest economies in the Congo Basin. It will be a regional effort involving the six countries in the Congo Basin, and Cameroon has shown interest. So, we're starting early talks about which activities we could support in Cameroon to promote sustainable forest economies,” Jaffrin said.

According to the Deputy Director, much of the wood extracted from the Congo Basin is currently exported as raw logs, limiting revenue and local job opportunities.

Stating the importance of boosting the forest sector, Jaffrin added that: “By investing in sustainable forest management and value-added processing facilities, the World Bank believes the region’s countries can create jobs, spur economic growth, and reduce deforestation”.

The World Bank official added that deforestation and illegal resource exploitation threaten the forest's ability to combat climate change and support millions of people’s livelihoods.

Jaffrin emphasised that the initiative’s two main objectives are to support forest conservation and contribute to local economic development and job creation.

According to the World Bank, the forest sector accounts for up to 9% of the Gross Domestic Product, GDP, of Congo Basin countries and employs between 300,000 and 500,000 people. 

The aim of the meeting by the World Bank is to strengthen its support for forest ecosystems via its global forest challenge programme. The initiative also seeks to improve governance, ensure compliance with international standards, and create an environment that attracts private sector investment.

The meeting also aimed to improve the quality of life for local communities by clarifying land ownership, securing forest rights, and providing access to clean cooking energy, while focusing on protecting high conservation value forests and biodiversity in the world’s second-largest tropical forest. 

This article was first published in The Guardian Post issue N0:3234 of Thursday September 19, 2024