Nepal receives USD 9.4 million from World Bank for reducing carbon

Kathmandu, Nov 17 (PTI) Nepal has received USD 9.4 million from the World Bank for reducing approximately 1.88 million tonnes of carbon dioxide under an emission reduction programme in the Terai Arc Landscape.

This is the first payment under the Forest Carbon Partnership Facility's (FCPF) Emission Reductions Payment Agreement (ERPA) — a major milestone in Nepal’s efforts to reduce emissions from deforestation and forest degradation, a press statement issued by the World Bank said on Sunday.

The FCPF programme in Nepal is characterised by its strong community-based approach to sustainable forestry.

Implemented across the Terai Arc Landscape — home to both rich biodiversity and a dense human population — the programme brings together local communities, indigenous peoples and civil society organisations to protect and restore forests and at the same time improving rural livelihoods.

“This milestone payment is testament to Nepal’s success in reducing deforestation, strengthening forest governance, enhancing biodiversity conservation and expanding sustainable livelihood opportunities for local communities,” said David Sislen, World Bank Division Director for Maldives, Nepal and Sri Lanka.

The payment will be distributed as per Nepal’s Benefit Sharing Plan, developed through a participatory process that included consultations with local communities and key stakeholders, according to the World Bank.

The plan ensures that forest-dependent communities and indigenous peoples directly benefit from the results of their efforts.

“This result-based payment reflects the efforts and dedication of our forest-dependent communities, indigenous peoples and the government in conserving and managing our forests. Nepal remains committed to advancing climate action through inclusive and community-led forest management,” said Dr Rajendra Prasad Mishra, Secretary at Ministry of Forests and Environment. PTI SBP GSP GSP