KATHMANDU, Nov. 16 (Xinhua) -- Nepal has received 9.4 million U.S. dollars from the World Bank's Forest Carbon Partnership Facility (FCPF) for reducing approximately 1.88 million tons of carbon dioxide in the Terai Arc Landscape, the World Bank said in a press release on Sunday.
This was the first payment under the FCPF's Emission Reductions Payment Agreement, a major milestone in Nepal's efforts to reduce emissions from deforestation and forest degradation and promote inclusive, sustainable forest management, the bank said.
"This milestone payment is testament to Nepal's success in reducing deforestation, strengthening forest governance, enhancing biodiversity conservation, and expanding sustainable livelihood opportunities for local communities," said David Sislen, World Bank division director for the Maldives, Nepal and Sri Lanka.
