World News | Bhupender Yadav Highlights India's Achievements During Ministerial Dialogue on Finance at COP16 in Riyadh

Riyadh [Saudi Arabia], December 3 (ANI): Union Minister for Environment, Forest and Climate Change, Bhupender Yadav, delivered India's statement during the Ministerial Dialogue on Finance, at CoP16 of UN Convention to Combat Desertification (UNCCD), in Riyadh, Saudi Arabia, on Tuesday.

Speaking on the theme, 'Unlocking Public and Private Finance for Land Restoration and Drought Resilience', the Minister stated that Finance is important for effective implementation of policies and programmes.

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In a press statement by the Ministry of Environment, Forest and Climate Change (MOEFCC), Minister Yadav noted in his address that the World Drought Atlas which was released yesterday emphasises the nature of risks, and the need for national plans and international cooperation.

He said, "This document can serve as guide for planning, increased mobilisation and finding solution of additional resources. Land degradation is a major issue which require more attention. Understanding this, India has been making efforts to leverage public finance mechanisms for the purpose of restoring its degraded lands."

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The Minister brought to attention India's initiatives and informed that financial support has been extended by the Government for land restoration through various public and privately funded initiatives, with active participation of the local communities, the press statement observed.

He noted, "India has promoted the facilities of extending micro-finance to the farmers for sustainable agriculture. Facilities have been extended through Regional Rural Banks and other financial institutions. India has targeted to restore 26 million hectares of degraded lands by 2030, of which more than 22.5 million hectares been achieved."

As an effort in this direction, India has launched Green Credit Programme whereby degraded land parcels are identified and restored with financial support from various entities including industries. Also, the Green India Mission, which is implemented at the country level through convergence of efforts of several sectors in all States takes into account landscape-based approach for eco-restoration of degraded lands. However, to intensify such efforts additional resources are important, the Minister stated.

MOEFCC in its press statement also noted that the Minister stated, India has also been in the forefront in advocating the adoption of environment friendly life styles and usage of traditional knowledge, Shri Yadav emphasized, "It is of paramount importance that Governments and Industry should work together to identify the zones and partner with each other to achieve the goals of Land Restoration and Drought Resilience through mobilisation of resources." (ANI)

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