© Heynortheast Media Private Limited
India signs $48 million loan pact with World Bank for Meghalaya
India has signed an agreement with the World Bank for a USD 48 million loan to strengthen community-led landscapes management in selected area in Meghalaya, the finance ministry said on April 16.
The closing date for ‘Meghalaya Community – Led Landscapes Management Project (MCLLMP)’ is June 30, 2023.
As per the ministry’s statement, the project has three components – strengthening knowledge and capacity for natural resource management; community-led landscape planning and implementation and project management and governance.
“The project will help manage these depleting resources, by strengthening the communities and traditional institutions,” the statement said.
Meghalaya’s natural resource such as land, water sources and forests is a source of livelihood for a majority of the population in the state.
“Restoration of degraded and highly degraded landscapes under the project will increase water for local communities and improve the soil productivity which will in turn increase incomes and reduce poverty,” the ministry said.
The News Mill is now on Telegram. Click here to join our channel (@thenewsmill) and stay updated with the latest news from across Northeast India