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FINANCING SUSTAINABLE DEVELOPMENT: ALLEVIATING LIVELIHOODS IN THE FOREST SECTOR WITH SIERRA LEONE AS A CASE STUDY

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Abstract

Sustainable development concept has been associated with many things, as in this situation with “Payment for Environmental Services [PES]”; a modern invention craving attention across the world, and more so for the benefit of those in developing nations around Asia, Latin America and Africa. Financing of sustainable development schemes require scope for enhancing sustained maintenance of basic livelihoods for everyone [both in the present and future], but more so for those whose lives have been heavily dependent on renewable forest resources. The concept of PES has been exemplified in a simple way to enable readers [of all types, ranging from professionals, academics to non-professionals] to grasp basic concepts that bothers on economics and natural resource concepts, and their application in understanding the varied sources of funding sustainable means of livelihoods, while at the same time ensuring the environment is securely protected for the benefit of both present and future generations. To start with, an introduction to the concept of sustainable development is addressed in line with REDD/REDD+ schemes, followed by detailed background information about Sierra Leone as a nation [including the geography. Pre and Post-colonial management of forests, and political economy dimension]. Secondly, there is a focus on the concept of PES, and backed by ways of financing it, particularly in the context of Sierra Leone. Thirdly, there is discussion surrounding the case for PES, challenges and associated benefits. Lastly, the document concludes with an overview of the study and recommendations to address the situation in the context of Sierra Leone.

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