WB approves Rs 30 cr bio-carbon project in HP
With an aim to promote greenery in the state, World Bank has approved a Rs 30 crore bio-carbon project in Himachal Pradesh for plantation work.
"The World Bank has agreed to provide a sum of Rs 30 crore as untied grants to the state for plantation work in fresh areas and their upkeep through panchayats," state Forest Minister Ramlal Thakur said on Monday.
The World Bank is providing the grant with no interest charged on the amount, he said.
Under the project, a sum of Rs 50,000 would be given every year to panchayats for carrying out plantation in 10 hectares of village, the minister said.
All 600 panchayats in the state would be covered under the scheme, Thakur said adding the scheme targeted to carry plantation in over 12,000 hectares of fresh land.
One woman has to be engaged as a "motivator" under the project the minister said.
The bank had earlier sanctioned a sum of Rs 365 crore under the 'Mid-Himalayan Watershed Development Programme' that intended to promote integrated development of horticulture and agriculture in the state.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.