January 15, 2014
WASHINGTON, January 15, 2014 – The World Bank’s Board of Executive Directors today approved a US$5.58 million Global Environment Facility (GEF) grant for the Sustainable Forest and Landscape Management (SFLM) Project for Bosnia and Herzegovina (BiH), to improve forest management of some 3,000 hectares, demonstrating modern techniques that reduce the vulnerability of forests to drought, fires, and pests.
The Project aims to ensure that forests and associated natural landscapes, which are important for the country’s economic development, are managed sustainably. Moreover, the project will specifically target those landscapes vulnerable to ongoing degradation or to escalated impacts from climate change, such as fire risks. In total, all of the country's forests (some 2 million hectares) will benefit as the techniques can be used by forest companies and communities to stave off future climate change threats.
“Improved sustainable forest and land integrated management will help to protect not only the forests of the country, but also the current and future jobs in the forest sector, while maintaining a sound resource base for local manufacturing and exports to a global market,” said Anabela Abreu, World Bank Country Manager for BiH. “As the country has an immense forest landscape from the coast to the mountains, the project ensures that benefits will be realized throughout the rural economy.”
The World Bank portfolio of active projects in BiH now includes 10 operations totaling approximately US$417 million. Areas of support include agriculture, environment, health, social safety and employment, local infrastructure, and private sector development.