Caspian Impact Investments (Caspian Debt) has provided Rs 8.5 crore (roughly $1 million) in debt funding to Iora Ecological Solutions (IORA), a company that specializes in Nature-based Solutions (NbS) for climate action and ecosystem conservation.
According to a press release from the company, the money will be used to expand its MegCare agroforestry and land restoration program in Meghalaya, which aims to improve forest cover, restore degraded landscapes, and improve rural livelihoods through sustainable agroforestry practices.
IORA, an environmental advisory firm founded in 2009 by Swapan Mehra, specializes in environmental finance, policy, scientific research, and project implementation. In the past 15 years, the company claims to have carried out more than 200 projects worldwide, with a focus on conservation, natural resource management, and climate adaptation and mitigation.
IORA claims that MegCare, a carbon finance model that connects ecosystem restoration with sustainable income generation, will help 80,000 smallholder farmers throughout Meghalaya.
In 27 Indian states, two union territories, and numerous nations in Southeast Asia, Africa, and South America, IORA asserts that its solutions for climate change, agriculture, forestry, and biodiversity conservation cover 20 million hectares.
