JBIC sanctions Rs 372 crores for Tripura's eco-conservation

By Staff
|
Google Oneindia News

Agartala, May 25 (UNI) Tripura Forest Minister Jitendra Choudhary today announced that the Japan Bank of International Co-operation (JBIC) has sanctioned soft loans of Rs 372 crores for a major ecological conservation project in the state.

The JBIC has agreed to provide financial assistance for the Tripura Forest Environmental Improvement and Poverty Alleviation Project, including multi-afforestation programme, by brining 51000 hectares of land under forest cover by 2015.

Talking to newspersons here, Mr Choudhury said after a year long study, the JBIC had finally approved the project last week and the amount would be invested in three different phases during next eight years.

The JBIC had agreed to invest on a condition that the state would repay ten per cent (Rs 37.2 crores) of the total investment within ten to 30 years with .75 per cent interest rate while 90 per cent would be repaid by the Centre, Mr Choudhury added.

He informed that about 10000 tribals would be directly benefited through the project.

About 400 joint forest management committees would be set up under 30 range areas across the state.

The project aimed at upgrading the forest cover, degraded by shifting cultivation, to an ecologically and commercially productive forest, Mr Choudhury said adding that it would also help to uplift the tribal-dominated areas.

Mr Chowdhary said the 'Jhum' cultivation carried out by the tribals had resulted in degradation of forest land.

According to statistics, about 55049 tribal families were involved in this cultivation covering a forest area of about 40,000 hectares in the state.

UNI

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X