• World Bank backs $1.02 billion Congo Basin forestry program
• Initiative targets jobs, sustainable management and emissions reduction
• Project aims to boost value chains and support regional cooperation

The World Bank has approved a major program to transform the forestry sector in Central Africa, mobilizing $1.02 billion, including an initial phase of $394.83 million, the institution said on Wednesday, April 1.

The Sustainable Congo Basin Forest Economy Program (SCBFEP) aims in its first phase to improve forest management, strengthen value chains and create 220,000 jobs in Cameroon, the Central African Republic and the Republic of Congo. Nearly 8 million hectares will be brought under sustainable management.

Overall, the program seeks to cut annual greenhouse gas emissions by 17.6 million metric tons of CO2 equivalent and increase the share of legally processed timber by 15%, while supporting community forestry, agroforestry systems and processing zones for small and medium-sized enterprises.

More than 500 SMEs and 20,000 people, 40% of them women, will receive training, financing and infrastructure support to strengthen value chains. Over 7,000 young people will also be supported in starting businesses.

“The Congo Basin is a shared asset, and its sustainability depends on coordinated policies and close regional cooperation,” said Marina Wes, acting director of regional programs at the World Bank. “By strengthening regional institutions, the program improves wood trade standards and creates a platform for learning and collaboration across the basin,” she added.

The program follows the launch in February of strategic roadmaps by six Congo Basin countries, with World Bank support, to develop carbon markets and climate finance in the forestry sector. The plans aim to help countries participate effectively in global carbon markets by turning their forests’ carbon absorption capacity into revenue and attracting investment.

The Congo Basin is the world’s largest carbon sink, absorbing more CO2 than the Amazon, according to the World Bank. Its tropical forest plays a vital role in supporting food security, sustaining indigenous and local populations, and preserving endangered species that depend on this ecosystem.

“Preserving the Congo Basin forests is vital not just for Africa’s future, but for the world,” the World Bank said. However, countries in the region receive only a small share of the value generated by the ecosystem services their forests provide globally.

Lydie Mobio