The Bhutan Trust Fund for Environmental Conservation (BTFEC) will provide financial assistance of US$ 7 M to Bhutan for Life (BFL), a strategic and long term project aimed at ensuring Bhutan remains economically and environmentally sustainable.
To this effect, the BTFEC and the Gross National Happiness Commission (GNHC) signed a Memorandum of Understanding (MoU) today. Also, the BTFEC released the first tranche of Nu 32.5 M, based on the work plan submitted for the activities that will be implemented from July 2019 to June 2020. BTFEC will release Nu 32.5 M annually based on the work plan prepared by the project coordination unit.
The grant is provided as a ‘project financing for permanence’ in protected areas of the country. “This is as a support to contribution over the 14 years for the Royal Government of Bhutan,” states the press release. The grant will be used to fund protected areas and its corridors.
