MINISTERS of Economic Community of Central African States (ECCAS) have adopted a document establishing a Fund for Green Economy in Central Africa (FEVAC).
Opening the Conference of Ministers of ECCAS on the Fund for the Green Economy in Central Africa (FEVAC) and the structural transformation of the economy of natural resources, the Vice Prime Minister of Defense and Veterans of the Democratic Republic of Congo (DRC), Tambo Loaba, announced a $3 million contribution from his country to start the Fund for the Green Economy in Central Africa (FEVAC).
“Concerning the financing of FEVAC, the Democratic Republic of Congo supports its creation and commits $3 million for its establishment beginning in 2015,” said Mr. Loaba in his address.
This decision marks a first giant step toward the effective initiation of a global restructuring of the Central African economy, based on the natural resource economy and the timber industry in particular.
“Today, for the first time, Central Africa has placed the environment within the core economic structure of the countries in the region,” emphasized Dr. Honoré Tabuna, Biodiversity Valuation and Environmental Economics expert and the conference coordinator. “We are finally reaching the final stages and practical implementation of a process that began in Rio in 1992. We must now talk about the economy in order to establish a new balance of sustainable development based on a green economy in Central Africa,” he added.
Held from October 27–30 in Kinshasa, the conference brought together the Central African Ministers of Finance, Foreign Affairs, and Forestry as well as several experts in green economy and the timber industry.
It was hosted by the ECCAS as part of the Program for the Management of Vulnerable Ecosystems in Central Africa (under ECOFAC), the result of a joint effort with the European Union, which provides financial support within the framework of the EU Forest Law Enforcement, Governance and Trade (FLEGT) Action Plan.
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