Today, the U.S. Agency for International Development (USAID) announced a five-year regional program to promote private finance and investment in the agriculture, forestry and other land uses (AFOLU) sector to promote economic opportunity and reduce deforestation. USAID’s Regional Development Mission for Asia awarded the five-year, $19 million USAID Green Invest Asia program to Pact, a U.S.-based development organization.
“Partnerships with the private sector are fundamental to Asia’s long-term development success,” said USAID Regional Development Mission for Asia deputy director Jeffrey Spence. “This new program brings businesses onboard with investments that help protect forests and the environment across Southeast Asia."
To date, commercial agriculture investments have been a key driver for the loss and degradation of forests in Southeast Asia. USAID Green Invest Asia will work to remove barriers to investment in profitable, low-emission businesses.
The program will help businesses and investors identify promising business models and evaluate market conditions that improve regional management of natural capital. USAID Green Invest Asia will further increase opportunities for U.S. businesses seeking to invest in supply chains that originate in Asia, allowing them to access markets inside and outside the region.
With a broad range of partners, USAID has actively promoted sustainable land use development programs across Asia. Through this program and others, USAID is helping Southeast Asia shift development toward environmentally and socially responsible growth.
In addition to Pact, USAID Green Invest Asia partners include Control Union, Mekong Strategic Partners and Lotus Impact.
For more information, contact Richard Nyberg, USAID: email@example.com