Kohima: The World Bank’s Board of Executive Directors approved a $225.5 million Enhancing Landscape and Ecosystem Management (ELEMENT) Project to support forest management and enhance forest value chains in Tripura and Nagaland.
The Enhancing Landscape and Ecosystem Management (ELEMENT) Project aims to benefit over 700,000 people across 400 villages in the two states. The approval was made on Monday.
Forests cover almost 1.5 million hectares in Nagaland and Tripura, playing a crucial role in the rural economy and supporting the livelihoods of significant tribal populations. However, recent decades have seen a decline in forest cover, impacting biodiversity and the well-being of forest-dependent communities.
The ELEMENT project will focus on conserving and restoring over 100,000 hectares of forest, promoting landscape-based value chains for economic transformation. This initiative is expected to avoid nearly 435,000 tons of carbon emissions annually, improve soil conservation, and enhance 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 Auguste Tano Kouamé, the World Bank’s Country Director for India.
The project will create economic opportunities for communities through the development of forest-based products like agarwood, bamboo, and honey, in partnership with the private sector. It will also support the enhancement of national parks and protected areas, and develop nature-based tourism facilities. The project aims to create 60,000 jobs for youth and women by promoting forest-based entrepreneurship and offering skills training in hospitality and nature guiding.
ELEMENT will adopt an integrated landscape approach to forest management, encompassing areas like grasslands, wetlands, and farmlands to maximize community benefits. Pyush Dogra and Raj Ganguly, the Task Team Leaders, asserted that this extends beyond traditional forests to include areas like grasslands, wetlands, and farmlands to maximize community benefits. “This will improve climate resilience of rural and forest-dependent communities and increase their livelihoods.”
This financing follows a $43 million World Bank loan to support similar activities in Meghalaya, another northeastern state of India. The ELEMENT project will be funded by a loan from the International Bank of Reconstruction and Development (IBRD) with a 12-year maturity and a 4.5-year grace period. The project will also receive a $2.4 million grant from the Global Partnership for Sustainable and Resilient Landscapes (PROGREEN).
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