Joint Decision - Ministers of Finance and Forestry

The management of reforestation funds in the forest development fund is a critical element of the government's natural resources management policy. The Minister of Finance (MoF) is to open an account at a general bank which is to be the Forest Development Fund account. The amount to be deposited is to be determined by the MoF and the initial deposit will be from reforestation funds already deposited in the MoF account.

The funds will be deposited by the MoF on the recommendation of the Minister of Forestry and are to be managed by the Director General of the Treasury. The MoF will provide a monthly statement to the Minister of Forestry of the condition of the account.

The funds can be borrowed for the purposes of reforestation and rehabilitation. Any failure to repay the funds borrowed will attract a penalty of 2% per annum in addition to the general rate of interest applicable.