Bhutan Trust Fund for Environmental Conservation (BTFEC) and Gross National Happiness Commission (GNHC) will sign a memorandum of understanding (MoU) for financial assistance up to USD 7 million (M) today.
BTFEC, in a press release, stated that they would provide the amount for programme financing of Bhutan For Life (BFL), which should be utilised as a project finance for permanence in protected areas of Bhutan. “This is as a support to contribution over the 14 years for the government of Bhutan,” the press release stated.
BTFEC will release Nu 32.500M annually based on the annual work plan prepared by the project coordination unit.
According to the press release, the first tranche of Nu 32.500M is being released to the government based on the work plan submitted for the activities that will be implemented between July 2019 and June 2020,
The grant will be used to fund protected areas and its corridors.