DILI, 2 january 2021 (TATOLI)— Timor-Leste and Gaia Carbon Trading Compnay on Friday signed a memorandum of understanding aimed at implementing the investment on the carbon and afforestation to commercialize the mangroves.
The signing of the agreement was witnessed by Timor-Leste Ministry of Justice, Ministry of Public Work and Ministry of Agriculture and Fishery.
The agreement was signed from the Secretary of Environment, Demétrio do Amaral de Carvalho and the President of GAIA Company, Frank Joshua.
Speaking shortly after the agreement was signed, Environmental Secretary, Demétrio do Amaral de Carvalho said, the signing of the agreement entailed the development of the two projects in Timor-Leste which are the investment of the commercialize carbon and rehabilitation as well as afforestation.
“We plan to install the stoves of energy that efficient for 200.000 households and reforestation of mangroves within 15.000 hectares of land,”Mr Amaral said.
Amaral said, his office will request every households to plant 12 pieces of trees, for the energy efficiency, to produce 1,4 million of trees in a year and 14 million trees for the next ten years.
In the previous years, 14.000 mangroves have planted, but were asset to the long term degradation begin from the second war world.
Following the actual data, only 1.000 hectares remain, and it needs to be invested since there is sufficient in the state budget to cover for mangroves.
“We thanked for the investment from the GAIA company for helping us to improve our environment,” he said.
The projects will initiate after the viability study and the government will conduct the agreement for the special investment with the company.
The agreement will open the process for the first viability study and as a part for the investors to have better known the entities in Timor-Leste and the line of ministries that will be led the agreement in this agreement, after the installation of 200.000 stoves energies and reforestation of mangroves in the 15.000 hectares.
The funds for the project, will be allocated by the company for the viability study and to hire the consultor to conduct the study.
At the same time, The President for GAIA Company, Frank Joshua, acknowledge with the agreement of the private investment.
“With this agreement, I hope that will give a rate for the development of Timor-Leste and I wish to invest to protect the environment in Timor-Leste,” Frank Joshua said.
Journalist: Florêncio Miranda Ximenes
Editor: Julia Chatarina
