BISHKEK, Kyrgyzstan, April 2. The World Bank will finance the Resilient Landscape Restoration Project in Kyrgyzstan, Trend reports.
According to the Ministry of Finance of Kyrgyzstan, the agreement was signed by Minister of Finance Almaz Baketaev on behalf of the Kyrgyzstan Cabinet of Ministers and Tatiana Proskuryakova, Regional Director of the WB in Central Asia.
According to the WB, the financial organization will provide a financing package of $45 million for the project, which has a total budget of $52.4 million. Additionally, the project will receive 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). The project is part of the regional umbrella, the RESILAND CA+ Program.
It was noted by the ministry that the project aims to implement efficient and sustainable monitoring of mudflows and glaciers to reduce their short- and long-term impacts on livelihood and land depletion.
Upon completion, the project will mitigate the effects of climate change on natural disasters, reduce economic losses from landslides and floods, enhance the resilience of vulnerable communities, and protect over 9,500 households, 2,754 households, 7,828 hectares of agricultural land, and numerous social facilities.