India signs $48 million loan agreement with World Bank for Meghalaya Community

NEW DELHI: 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 Sameer Kumar Khare, Joint Secretary (MI), Department of Economic Affairs on behalf of the Government of India and Hisham A Abdo Kahin, Acting Country Director, World Bank (India) on behalf of the World Bank. A Project Agreement was also signed by P. Sampath Kumar, Commissioner & Secretary to the Government of Meghalaya & CEO, Meghalaya Basin Development Authority (MBDA) and Hisham A Abdo Kahin, Acting Country Director, World Bank (India).nnThe 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: (i) Strengthening Knowledge and Capacity for Natural Resource Management; (ii) Community-led landscape planning and implementation and (iii) Project Management and Governance.nnThe closing date of the Project is 30th June, 2023.nnMeghalaya?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.