The World Bank has instituted a new fund that promises to relieve the poorest farmers and rural communities in developing countries of their financial worries. The Biocarbon Fund will invest in their forestry and agroforestry projects in exchange for credits for carbon dioxide (co2) stored in plants and soil. These will accrue to contributing companies and governments who need such 'carbon credits' to meet their target of reducing greenhouse gas emissions.
Launched on November 5, 2002, the fund will consider afforestation and reforestation projects that retain or increase the amount of co2 in forest and agro-ecosystems. These may include small-scale reforestation and improved forest management.
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