World Bank approves $225.5 million for forest conservation in Tripura and Nagaland

Guwahati, Nov 26: The World Bank has approved a $225.5 million project aimed at improving forest management and enhancing forest-based value chains across over 400 villages in Tripura and Nagaland, benefiting more than 700,000 people. The Enhancing Landscape and Ecosystem Management (ELEMENT) Project, approved on November 25, 2024, will also help conserve and restore 100,000 hectares of forest while avoiding an estimated 435,000 tons of carbon emissions annually.

Forests: A Crucial Resource at Risk
With nearly 1.5 million hectares of forest area, Tripura and Nagaland rely heavily on forest resources to sustain tribal livelihoods. However, the last decade has seen significant reductions in forest cover, threatening biodiversity and the well-being of forest-dependent communities.

Transformative Goals of the ELEMENT Project
The ELEMENT Project seeks to address these challenges by adopting a holistic landscape approach to forest management. Key components include:

Forest Conservation and Restoration: Strengthening soil conservation, improving water availability, and enhancing carbon sink capacity.
Economic Opportunities: Promoting forest-based entrepreneurship in non-timber products like agarwood, bamboo, and honey in partnership with private sector players.
Tourism Development: Establishing nature-based tourism facilities and improving protected areas and national parks.
“The Project will leverage forests for private-sector job creation, enhance their carbon sink potential, and contribute to the economic growth and social well-being of Tripura and Nagaland,” said Auguste Tano Kouame, the World Bank’s Country Director for India.

Job Creation and Community Benefits
A key focus of the project is empowering local communities, with plans to create 60,000 jobs for youth and women through skills training in hospitality and nature guiding. By expanding the scope of forest management to include grasslands, wetlands, and farmlands, the project aims to boost climate resilience and livelihoods.

“This integrated approach will maximize community benefits and improve the climate resilience of rural and forest-dependent populations,” said Task Team Leaders Pyush Dogra and Raj Ganguly.

Complementary Support and Financing
The project will also benefit from a $2.4 million grant from the Global Partnership for Sustainable and Resilient Landscapes (PROGREEN). The $225.5 million loan, provided by the International Bank for Reconstruction and Development (IBRD), has a final maturity of 12 years with a grace period of 4.5 years.

This initiative follows the World Bank’s $43 million financing for similar forest management activities in Meghalaya, signaling a robust commitment to sustainable development in India’s Northeast.

Also Read: Youth Power: Unlocking Meghalaya’s potential as an intellectual and development Hub

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