World Bank Loan Facilitates Hunan Forest Restoration and Development

The International Symposium on the World Bank Loan Hunan Forest Restoration and Development Project (HFRDP) was held in Changsha on March 10, 2019. Hunan Forestry Department inspector Zhang Kaifeng, World Bank China Office project management Liu Jin, attended.

About 4.53 million hectares of forests in Hunan was damaged during the freezing disaster in 2008, with the damaged stock volume reaching 174 million cubic meters. Hunan, for the first time, independently applied for the World Bank Loan for its forest restoration project, in a bid to restore forests in 22 severely damaged regions, including Ningxiang, Liling, and Hengnan counties. Over the past six years, 725 million CNY capital has been put in the project, including 80 million USD loaned from the World Bank. A total of 61,986.7 hectares of forests have been built, 0.7% above the stated target.

After completion, Hunan’s forestry area has increased by nearly 33,000 hectares, with the forest coverage in the project areas up 0.55 percentage points and the water conservation capacity improved. The project has created remarkable ecological and economic benefits, and cultivated a group of forestry management and technical personnel. It is significant to build Hunan an ecological powerhouse.

At present, Hunan’s forest coverage is 59.83%, with a stock volume of 572 million cubic meters. The forest area covers over 13 million hectares. The wetland protection rate reaches 75.53%. The forest industry output value totals 460 billion CNY. “In the new era, Hunan will collaborate with the World Bank and other international financial organizations in the core areas of forestry sustainable development, carbon sink, multifunctional utilization, and tackling climate change,” said Zhang Kaifang. “We will further intensify project cooperation, complete cooperative mechanism, and exchange development experience.”

This article is from Hunan Provincial Government.