(MENAFN- Qatar News Agency) The World Bank's Board of Directors today approved a US$ 40 million loan to co-finance with the Russian Federation a US$ 121.26 million Forest Fire Response Project in Russia.
The Project will assist the Federal Forestry Service and the Ministry of Natural Resources and Environment to improve forest fire prevention and suppression in select forest ecosystems, including targeted protected areas. The loan is part of the $121.26 million Forest Fire Response Project in Russia being co-financed by the Russian government and aims to "improve forest fire prevention and suppression in select forest ecosystems, including targeted protected areas," according to data posted on the World Bank's website. The bank cited official data according to which there are on average 24,000 forest fires annually covering 1.4 million hectares of forest, with up to 93% of the country's forest fires being of a man-made nature. Total carbon emissions from fire-affected Russian forests are estimated at 50 to 231 million tons of carbon per year.
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