The Meghalaya Government on Monday signed a USD 48 million agreement with the World Bank in New Delhi to reduce poverty in the hill State by boosting incomes of the communities and traditional institutions and making them the catalyst to reduce poverty through management of the depleting natural resources.

The loan agreement meant for the ‘Meghalaya Community-led Landscapes Management Project’ in Meghalaya within June 30, 2023, was signed by P Sampath Kumar, Commissioner and Secretary to the Governor of Meghalaya and CEO, Meghalaya Basin Development Authority and Hisham A Abdo Kahin, Acting Country Director, World Bank (India).

The project consists of three components — strengthening knowledge and capacity for natural resource management; community-led landscape planning and implementation; as well as project management and governance of the natural resources like land, water resources, and forests that are a source of livelihood for a majority of the population in the State.