World Bank approves $225.5M initiative for forest management in Tripura & Nagaland

Guwahati: World Bank's board of executive directors approved a major 225.5 million dollar initiative, supporting over seven lakh people in managing forest landscapes and improving forest value chains across more than 400 villages in Tripura and Nagaland, an announcement said on Tuesday.
Forests, spanning approximately 1.5 million hectares, are crucial to the rural economy in Nagaland and Tripura and sustain numerous tribal communities. However, the past decade witnessed declining forest coverage, posing risks to biodiversity and forest-dependent communities' livelihoods.
According to the World Bank's statement, the Enhancing Landscape and Ecosystem Management (ELEMENT) Project aims to preserve and restore over 100,000 hectares of forest, boost landscape-based value chains for economic transformation and prevent roughly 435,000 tonnes of annual carbon emissions. Additionally, the initiative will enhance soil conservation and water availability.
"The Project will contribute to leveraging forests for private sector-driven job creation in non-timber economic activities, enhancing the carbon sink capacity of the forest and ultimately contributing to economic growth and social well-being in Tripura and Nagaland," said World Bank country director for India Auguste Tano Kouame.
The statement said the ELEMENT project seeks to create economic prospects for communities through forest products, including agarwood, bamboo, and honey, by collaborating with the private sector. It will also support the enhancement of national parks and protected areas while developing nature-based tourism facilities.
The initiative targets creating 60,000 jobs for youth and women by promoting forest-based entrepreneurship through skills development in the hospitality and nature guide training sectors. The project will implement a comprehensive approach to forest management.
"This goes beyond traditional forests to include areas like grasslands, wetlands and farmlands to maximise community benefits," said Pyush Dogra and Raj Ganguly, the task team leaders for the project. "This will improve climate resilience of rural and forest-dependent communities and increase their livelihoods," they added
This funding follows the Bank's 43 million dollar financing for similar initiatives in Meghalaya.
The International Bank of Reconstruction and Development (IBRD) loan has a 12-year final maturity with a 4.5-year grace period. The project will also benefit from a complementary 2.4 million-dollar Global Partnership for Sustainable and Resilient Landscapes grant.