DRYAD: Financing Sustainable community forest enterprises in Cameroon
Community forestry in Cameroon faces many challenges, amongst which include access to finance. Better access to finance can catalyze viable and sustainable enterprise around forest products and services for the benefit of forest communities. Hence the Dryad project, a five-year DFID funded Initiative.
To enhance viable community forest enterprises (CFE) with sustainable livelihoods and environmental benefits through performance-based public finance and support mechanisms.
- Well-established and sustainable CFEs with viable business cases and sufficient skills to manage and maintain community forest land.
- Communities derive economic, social and environmental improvement as a result of Dryad funding that benefit community members equitablyTowards this goal and objectives, DRYAD will channel public funding to CFEs that can demonstrate sustainable impact environmentally, economically and socially. The project targets to reach 25-30 CFEs covering a maximum of 150 000 ha of forestland over a period of five (5) years.
What is Dryad?
Dryad is a system to provide financial support, training and technical assistance to sustainable Community Forestry Enterprises (CFEs) via a network of locally based Implementing Organizations (IOs).Although Dryad does not make investments like a bank or private asset manager, the system nevertheless seeks a “return” on its commitment of public capital. This “return” is not measured in money, but rather, by indicators showing the fulfillment of important social, commercial and environmental objectives.
• The World Agroforestry Centre (ICRAF) is the lead coordinating institution and will also lead the action research within the project
•TMP systems, creators of the DRYAD concept, will facilitate the technical aspects of the project.Implementing Organizations 4 to 5 organizations will be identified
• Community Forest Enterprises (CFEs)- 25-30 CFEs will be identified
After all, we examine whether such financing mechanisms are efficient and effective in promoting sustainable community forest enterprises.Overall, the project will be implemented in three main workflows:
- Delivery of financing and a functional monitoring system - To monitor CFE performance against selected environmental, social, and economic indicators, a Field Monitoring System (FMS) will be deployed.This system will enable the CFEs to feed data and upload associated data that can be viewed and analyzed in real time by the implementing agencies.
- Developing and providing technical and capacity support to community forests.
- Research on effectiveness and efficiency of financial mechanism and dissemination of results and informationThe project will provide good-practice guidance, resources and recommendations for scaling-up(DRYAD) and similar public financing and public-private partnership co-investment approaches.
- Creating a community of practice around forest enterprise could would help generate employment build knowledge and skills and help improve living standard and reduce poverty.
- Communities that are empowered economically, socially and environmentally will contribute to overall progress towards Sustainable Development Goals (SDG) targets.
- The project will contribute towards forest conservation and sustainable forest management efforts in the country with benefits for emission reductions through reducing emissions from deforestation and forest degradation (REDD+) and adaptation to climate change.