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.
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