Move aims at implem­enting Ten Billio­n Tree Tsunam­i and Rechar­ge Pakist­an progra­mmesISLAMABAD: The World Bank has shown its interest to provide $188 million to fund the upcoming Ecosystem Restoration Initiative aims at implementing the ‘Ten Billion Tree Tsunami’ and ‘Recharge Pakistan’ programmes. NDRMF has already been financing projects through funding being arranged from the Asian Development Bank, said a press release issued on Sunday. The Ecosystem Restoration Initiative in addition to financing afforestation projects such as the Ten Billion Tree Tsunami would also focus on Recharge Pakistan, E-Vehicles, Marine Life and Blue Economy, Biodiversity and Land Degradation, provision of early warning radars and eco-tourism. The Ecosystem Restoration Initiatives will not only provide money to the provincial governments and other implementation partners through grant financing, it will also free up space in the budget allocations for the government. Now the bank will use the project funds to finance the Ecosystem Restoration Initiative.

Source: The Express Tribune February 23, 2020 16:30 UTC