ADB funds Asia’s sea, rainforest preservation project

March 14th, 2008 - 7:34 pm ICT by admin  

Manila, March 14 (Xinhua) The Asian Development Bank (ADB) Friday said it would fund a regional project to protect the shrinking seas and rainforests in Southeast Asia. The region is home to the Coral Triangle, which has the highest marine biodiversity in the world, as well as the heart of Borneo, rainforests covering 22 million hectares that are some of the last refuges for orangutans, Asian elephants, and Sumatran rhinos, the regional bank said.

Each year logging, mining and farming destroy millions of hectares of forests. Global warming also had its shares of damage, the ADB said.

The ADB grant, amounting to $1.5 million, will provide funding for the World Wide Fund for Nature to undertake an environmental and socio-economic profile of the region, GIS (geographic information system) mapping and stakeholder consultations.

The grant will also allow the countries to assess policies and institutional capabilities in managing natural resources, address cross-border environmental issues and implement policies through the setting of minimum standards, monitoring and self-regulation.

The programme will then work with the four governments, donors, private sector and NGOs to foster support for the programme and forge partnerships for action.

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