OSLO: Norway agreed yesterday to pay Guyana up to $250m by 2015 to preserve forests in the South American nation as part of a scheme to slow climate change.

Norway, which has led donor nations in slowing tropical deforestation with a budget of $3bn Norwegian crowns ($530m) a year, said it wanted to help Guyana maintain forests that cover 75 percent of its land. “Saving the world’s remaining tropical forests is a crucial element in the battle against climate change,” Norwegian Environment Minister Erik Solheim said of a memorandum he signed in Guyana with President Bharrat Jagdeo.

“Provided that the expected results are achieved and that other elements of the partnership fall into place, our support for the years up to 2015 could add up to as much as $250m,” he said in a statement.

Plants soak up carbon dioxide as they grow and release it when they are burnt or rot. The United Nations says deforestation accounts for about a fifth of all greenhouse gas emissions from human activities.

Until now, nations with high levels of forest cover have attracted less cash than worse performers promising to slow high rates of deforestation. “Success in the global fight against deforestation means that both the countries that have high deforestation rates and those with low rates should obtain incentives to preserve their forests,” the Norwegian ministry said.