The Finance Ministry and the World Bank signed a grant agreement of $24.64 million from the Global Environment Facility (GEF) of the World Bank for ecosystem service improvement project.
The project would be financed entirely by the World Bank out of its GEF Trust Fund. The project’s duration is five years. The objective of the Project is to strengthen the institutional capacity of the departments of forestry and community organizations to enhance forest ecosystem services and improve the livelihoods of forest dependent communities in central Indian highlands.
Important Takeaways from Above News-
- World Bank’s Acting Country Director for India is Hisham Abdo Kahin.
- The President of the World Bank is Mr. Jim Yong Kim.
- It was founded in 1944.
- It Headquarters in Washington DC, USA.
Source- Business Standard