BISHKEK, Kyrgyzstan, February 28. The World Bank (WB) has approved a $45 million financing package for the Kyrgyzstan Resilient Landscape Restoration Project, Trend reports.
As per the bank, this project falls under the RESILAND CA+ Program, a regional initiative. The funding is provided in the form of a zero-interest credit, with repayments spread out over 50 years and a 10-year grace period.
The project's major purpose is to increase the coverage of areas under sustainable landscape management in specific locations throughout Kyrgyzstan while also encouraging regional collaboration among Central Asian countries for transboundary landscape restoration. Over 50,000 people, especially women and disadvantaged groups, are expected to benefit directly in rural communities spanning the Jalal-Abad, Osh, Issyk-Kul, and Naryn regions.
The initiative will improve the country's mudflow, glacier, and snow cover monitoring systems, allowing for more long-term mitigation activities. Furthermore, it will encourage the use of climate-resilient natural solutions as well as green, gray, and hybrid approaches to landscape restoration and protection in both upstream and downstream areas.
"The project's strategy will have immediate positive regional impacts as most of the project target areas are situated upstream of transboundary rivers. Community involvement will be central to the implementation of green and nature-based solutions through a Green Wager Program that will be used to pay for local labor," the bank reports.
Special attention will be given to building resilient livelihoods through training and market connections, utilizing the established One Village, One Product method in Kyrgyzstan.
The total financing for the project includes a $5 million grant from the Global Partnership for Sustainable and Resilient Landscapes (PROGREEN) and a $2.4 million grant from the Korea-World Bank Partnership Facility (KWPF), resulting in a combined financing of $52.4 million.
Naveed Hassan Naqvi, World Bank Country Manager for Kyrgyzstan, said that this project is not only an important step towards building a more resilient future for the people of Kyrgyzstan, but it will also have positive spillover effects on neighboring countries.
The project is scheduled to be implemented through 2029 by the Ministry of Emergency Situations of Kyrgyzstan.