The World Bank and Government of Sri Lanka signed a US$45 million credit to help protect Sri Lanka’s natural habitats and resources from degradation and over-exploitation.

    The project will assist the government improve the lives and livelihoods of neighboring communities, who suffer the most from natural resources loss and degradation, according to the world bank press release.

    The Ecosystem Conservation and Management Project (ESCAMP) will benefit approximately 15,000 residents; 30% among them women, with most of them belonging to marginalized groups. It will protect and foster the sustainable use of natural resources by introducing more competitive and compatible livelihood opportunities.

    Through the Department of Wildlife Conservation and Forest Department, the project will support the management of protected areas. Improved landscape management, better awareness and improved coordination on natural resource management among different stakeholders, and increased quality of nature-based tourism are some of the expected results.

    A recent World Bank Group assessment, the Systematic Country Diagnostic (SCD) underlined the importance of environmental management and stewardship to preserve Sri Lanka’s natural resources while developing tourism.

    This project also aligns with the government’s policies to expand forest cover in line with Sri Lanka’s environmental action plan, Punarudaya. It will develop human-elephant co-existence mechanisms and protect watersheds to boost agricultural productivity. Over time, the project will reinforce the emerging strategy on Reducing Emissions from Deforestation and Forest Degradation (REDD+) as well as policies to promote sustainable water, agriculture and energy practices, while supporting social inclusion and resilience to climate and disaster risks.

    The credit for this project is provided by the International Development Association (IDA), the World Bank’s concessionary lending arm –with a maturity of 25 years, including a 5 year grace period.