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Over 130 project proposals have been submitted for consideration by the BioCarbon Fund. The World Bank, in consultation with the BioCarbon Fund Participants, has identified a group of around 20 leading project candidates, which would supply the greenhouse gas emission reductions to the Fund. In arriving at this list, several criteria were taken into account, including the likelihood of the project raising the necessary start-up capital, the price requested by ton of carbon dioxide equivalent, the expected benefits for the local environment and communities, and the developer's track record. Geographical and technological diversity was also sought. It is expected that by May 2005 the BioCarbon Fund portfolio will have been identified and entered advanced preparation phase.
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