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Kathmandu, Nov 16: Nepal has received Rs 1.19 billion from the global Forest Carbon Partnership Fund after successfully reducing around 1.888 million tons of carbon dioxide emissions under the “REDD+” emission reduction program in the Terai Arc region.

This payment marks Nepal’s first disbursement under the Emission Reduction Payment Agreement (ERPA) of the fund. The World Bank, in a statement today, said the achievement highlights Nepal’s efforts to curb deforestation and promote inclusive and sustainable forest management.

The bank expressed confidence that the proceeds will support Nepal in preventing forest loss, enhancing biodiversity, and expanding sustainable livelihood opportunities for local communities.

Rajendra Prasad Mishra, Secretary at the Ministry of Forests and Environment, said the payment demonstrates the joint commitment of forest-dependent communities, indigenous groups, and the government.

People’s News Monitoring Service