World Bank releases $100M for China?s forestry development



China is set receive a $100 million loan from the World Bank to finance the Guangxi Integrated Forestry Development and Conservation Project which aims to improve forest management and institutional arrangements in timber production, watershed protection and nature reserves management and enhance the conservation of globally significant biodiversity in selected areas of the Guangxi Zhuang Autonomous Region. “The project would introduce a sector-wide, integrative and comprehensive approach to sustainable forest management and biodiversity conservation by supporting improvement of all three forest categories of timber production, ecological environment protection and biodiversity conservation in the context of sustainable forest management in Guangxi,” said Liu Jin, World Bank agriculture specialist and task manager for the Guangxi Forestry Project. The loan will fund the establishment of high-yield timber plantations and the introduction of superior genetic materials and forest management technologies. It will be supplemented by a $5.25 million grant from the Global Environment Facilities (GEF) for the formulation and implementation of management plans for five globally significant nature reserves for demonstration purposes, conduct of targeted biodiversity surveys and research to better integrate biodiversity conservation into the broader landscape and strengthen collaboration between nature reserves and local communities. The World Bank has been supporting China?s forestry programs since 1985, providing more than $900 million in loans and credits while the GEF has also provided $33 million in grants for the country?s biodiversity efforts.

Source: World Bank lends to support forestry development in China (Xinhua)

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