Laos expects to earn income from sale of carbon credit in 2022

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Vientiane

The Lao government expects to earn its first income from the sale of carbon credit in 2022 after signing an agreement with the World Bank.

Local daily Vientiane Times on Friday quoted Deputy Director General of the Forestry Department Khamsene Oukham as saying that the government had signed an agreement with the World Bank to sell carbon credits from designated forest areas in the six northern provinces of Huaphan, Luang Prabang, Oudomxay, Luang Namtha, Bokeo and Xayaboury.
“We expect to receive about 15 million U.S. dollars from the sale of carbon credit in 2022,” said Khamsene. “If we are unable to protect forest areas, there will be less carbon credits and we will not earn so much from this business arrangement,” Khamsene added.—Xinhua