22 Jun '11, 5pm

World Bank Loans Madagascar $52 Million To Protect Biodiversity

World Bank Loans Madagascar $52 Million To Protect Biodiversity

Reuters reports that the World Bank has approved a $52 million loan to Madagascar for the express purpose of protecting its biodiversity. Illegal logging has been on the upswing after political unrest over the last two years, and the financing will provide much-needed support for 30 national parks and three new protected areas covering 2,7 million hectares. The funds will cover surveillance and control activities in protected areas, with the hope of stemming illegal logging, and will also help with relieving poverty in rural communities around the protected areas, which will put the residents in a better position to help in conserving the local ecosystems. The World Bank states in a press release that the loan doesn't signal a renewal of the organization's program in Madagascar, which was put on hold after the military-backed coup in 2009. However, the World Bank recognize...

Full article: http://www.treehugger.com/files/2011/06/world-bank-loans-...

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