Georgia: Forests Development Project

CREDIT AMOUNT:  IDA—US$15.67 million

TERMS:  Grace period = 10 years; Maturity = 40 years

PROJECT DESCRIPTION:  This project will establish sound forest management systems that work to maximize the potential of Georgia's forests to reduce rural poverty on an environmentally sustainable basis.  The project will work to protect existing forests while reforesting selected priority areas.  Reforestation prevents the occurrence of soil erosion and protects the amount of arable land used for cultivation.  Sustainable forest planning and management will contribute to a rural economy highly dependent upon agriculture.  The project will also support the implementation of regulatory, financial and institutional reforms in the forest sector, while strengthening public institutions involved in sustainable forest management and monitoring.  For more information, please call Gina Ciagne at (202) 458.4166, fax at 522.3362, or e-mail Gciagne@worldbank.org.