World Bank Approves $225.5 Million Project for Forest Management in Tripura and Nagaland

The World Bank’s Board of Executive Directors has approved the $225.5 million Enhancing Landscape and Ecosystem Management (ELEMENT) Project to support sustainable forest management in Tripura and Nagaland. The initiative will benefit over 700,000 people in 400 villages, focusing on forest conservation and strengthening forest resource value chains.

Tripura and Nagaland, covering almost 1.5 million hectares of forest, have seen a reduction in forest cover, endangering biodiversity and livelihoods. The ELEMENT Project seeks to preserve over 100,000 hectares of forest, improve soil conservation, and increase water availability. This initiative is expected to prevent around 435,000 tons of carbon emissions yearly.

Auguste Tano Kouamé, the World Bank’s Country Director for India said, “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."

World Bank Reports Bosnia Needs $6.8 Billion for Climate Change Resilience

Promoting Forest Entrepreneurship and Employment

The ELEMENT Project will create economic opportunities by leveraging sustainable forest products like agarwood, bamboo, and honey in collaboration with the private sector. It will also focus on enhancing national parks and protected areas, fostering nature-based tourism, and supporting forest-based entrepreneurship.

The project provides skills training for youth and women in hospitality and nature guiding, creating 60,000 jobs and empowering communities.

World Bank invests additional $1.5 billion to boost India’s low-carbon energy sector

Adopting Integrated Landscape Management

The ELEMENT Project takes a holistic approach to forest management, combining forests, grasslands, wetlands, and farmlands for community benefits. Task Team Leaders Pyush Dogra and Raj Ganguly emphasized that the strategy will enhance climate resilience and improve livelihoods.

The International Bank for Reconstruction and Development (IBRD) supports the project with a 12-year loan, including a 4.5-year grace period. Additionally, it will receive a $2.4 million grant from the Global Partnership for Sustainable and Resilient Landscapes (PROGREEN).