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JICA soft loan for ecosystem restoring project in Gujarat

As per forest officials, 15% of the cost will be borne by the state government and rest of the amount will be provided by JICA as a soft loan at an interest rate of 0.4%. The state government will have to start repaying the loan after five years.

By: Express News Service | Gandhinagar |
Updated: July 13, 2021 9:21:45 pm
The nine-year project is expected to begin this year and will cover various aspects of ecosystem restoration in the state. (Representational Image )

The Japan International Cooperation Agency (JICA) has sanctioned a soft loan to the Gujarat forest department for a project — Ecosystem Restoration in Gujarat — worth Rs 905 crore.

The nine-year project is expected to begin this year and will cover various aspects of ecosystem restoration in the state.

As per forest officials, 15% of the cost will be borne by the state government and rest of the amount will be provided by JICA as a soft loan at an interest rate of 0.4%. The state government will have to start repaying the loan after five years.

The project includes restoration of various ecologically sensitive areas of the state, includinng coastal areas, grasslands, wetlands and degraded forests. The project was finalised after detailed field visits by officials concerned in Gujarat. It is expected to cover restoration of mangroves in 12,200 hectares in coastal areas and 8,500 hectares of grassland.

Speaking about the project, Principal Chief Conservator of Forest & Head of the Forest Force, DK Sharma, said, “The works under this project have been finalised after a lot of discussions and are likely to begin by the current year itself. With this project, ecology of Gujarat will improve significantly.”

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