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World Bank to Fund Hunan Forest Restoration

CHANGSHA – The World Bank (WB) will provide a 500-million-yuan ($81 million) loan to Central China’s Hunan province to restore artificial forests damaged by freezing weather in early 2008, according to a WB program that was launched on Monday.

The loan, with a length of 26 years, will be used to rebuild and restore 58,900 hectares of artificial forest damaged in 22 counties and districts, according to Zhang Fushuo, the provincial deputy governor.

The six-year-long program, which was formally launched on Monday in the provincial capital of Changsha, will also provide technological support for forest nursery upgrades and the development of planting materials and forest cooperatives in the affected areas, said Zhang.

The Chinese government will co-finance the program with 220 million yuan. The Hunan provincial government has allocated seven million yuan for the program.

About 35.3 percent of forestland in Hunan was damaged during a period of extremely cold weather in early 2008, said Zhang.

The WB initiated the program in 2009 and got approval from the WB board of executive directors in 2013.

Source:China Daily