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Date Time Share Nepal and World Bank Sign Innovative Financing Agreement on Forests and Climate Change for Building Back Greener The agreement of up to US$45 million will also promote sustainable livelihoods and land use in Nepal’s resource-rich lowlands. Kathmandu, February 26, 2021 – The Government of Nepal signed a landmark agreement with the World Bank’s Forest Carbon Partnership Facility (FCPF), unlocking up to US$45 million to support Nepal to decrease carbon emissions from deforestation and forest degradation through 2025. With this Emission Reductions Payment Agreement (ERPA) in place, Nepal is expected to reduce 9 million tons of carbon dioxide emissions in the Terai Arc Landscape. The agreement was signed by the Secretary of the Ministry of Forests and Environment, Dr. Bishwa Nath Oli on behalf of the Government of Nepal, and the World Bank Country Director for Maldives, Nepal and Sri Lanka, Mr. Faris Hadad-Zervos on February 24.

United statesSri lankaSishir kumar dhunganaFaris hadad zervosWorld bank countryNepal emission reductions programNepal ministry of forestsMinistry of forestsClimate investment fund forest programWorld bankWorld bank forest carbon partnership facilityForest carbon partnership facilityEmission reductions payment agreementTerai arcBishwa nath oliWorld bank country director