India Signs Loan agreement with World Bank for usd 48 million for Meghalaya

New Delhi, April 16: A Loan Agreement for IBRD loan of USD 48 million for the “Meghalaya Community – Led Landscapes Management Project (MCLLMP)” was signed here today with the World Bank. The Loan Agreement was signed by Mr. Sameer Kumar Khare, Joint Secretary (MI), Department of Economic Affairs on behalf of the Government of India and Mr. Hisham A Abdo Kahin, Acting Country Director, World Bank (India) on behalf of the World Bank. A Project Agreement was also signed by Mr. P. Sampath Kumar, Commissioner and  Secretary to the Government of Meghalaya and CEO, Meghalaya Basin Development Authority (MBDA) and Mr. Hisham A Abdo Kahin, Acting Country Director, World Bank (India).

The Objective of the Project is to strengthen community-led landscapes management in selected landscapes in the State of Meghalaya. The Project consists of three components, to Strengthening Knowledge and Capacity for Natural Resource Management; Community-led landscape planning and implementation and  Project Management and Governance.

The closing date of the Project is 30th June, 2023. 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. The Project will help manage these depleting resources, by strengthening the communities and traditional institutions. 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.

 

 

 

 

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