The
World Bank has announced that it will be funding the Russian
federation's attempts to prevent forest fires, with a cash injection
worth a staggering $40 million. The move has been welcomed by FRA.
Seattle,
United States, October 6, 2012 -- The World Bank has announced
that it will be funding the Russian federation's attempts to prevent
forest fires, with a cash injection worth a staggering $40 million.
The move has been welcomed by Forestry Research Associates (FRA).
The
co-finance deal will take the form of a loan, that will contribute to
Russia's $121.26 million Forest Fire Response Project. The forest
fire prevention project is run by the Federal Forestry Service and
the Ministry of Natural Resources and Environment in an attempt to
reduce the number of devastating forest fires that threaten Russia's
valuable forests.
Some
20 per cent of the world's forests are to be found in Russia and
every year, around 1.4 million hectares are affected by forest fires.
It is thought that around 93 per cent of these forest fires are
started by humans. The investment will help the Forest Fire Response
Project to monitor the problems, help identify and extinguish fires
and reduce the number being started in the first place.
"This
investment shows the World Bank's commitment to safeguarding the
future of the forestry industry in Russia," stated FRA's
analysis partner, Peter Collins.
"Sustainable
forestry is not only a major source of employment and income for
communities all over the world, but also provides a huge amount of
the world's oxygen and carbon absorption. Without trees, we would
simply not be able to live," added Collins.
FRA
supports sustainable forestry in all its forms and is particularly
keen to promote investment in plantation projects that run on a
cyclical model, which ensures that trees are always growing to
replace those felled.
"Sustainability
is the key to any successful managed forestry project, in our
opinion," added Mr Collins. That's why we support Greenwood
Management's eucalyptus, teak and acacia plantation
investment projects in Brazil. These forestry investment projects are
a great way for investors to diversify their portfolios."
About
Forestry Research Associates
Forestry
Research Associates is a research and advisory consultancy that
focuses on forestry management, sustainability issues and forestry
investment around the globe.
Media
Contact:
Peter
Collins
Forestry
Research Associates
620
Vineyard Lane
Bainbridge
Island, WA 98110
(206)
316 8394