HUNAN FORESTRY (EIB-20160746)

Countries
  • China
Where the impacts of the investment may be experienced.
Specific Location
Hunan Province, China
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
PEOPLE'S GOVERNMENT OF HUNAN PROVINCE
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • Climate and Environment
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 123.51 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 100 million
Converted using 2018-04-17 exchange rate.
Project Cost (USD)
$ 247.03 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 200 million
Converted using 2018-04-17 exchange rate.
Primary Source

Original disclosure @ EIB website

Updated in EWS Jan 31, 2019

Disclosed by Bank Feb 9, 2018


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Project Description

The project aims to improve 5,400 ha of degraded lands and to rehabilitate about 41,400 ha of existing low-quality forests in the Province of Hunan, People's Republic of China in order to create:

(1) a biodiversity conservation with protection zone for special habitats (55ha)

(2) a forest protection component including forest roads, firebreaks, and fire towers,

(3) a capacity building component as forest management planning, monitoring systems, and forest certification.

This project is fully in line with the EU's policy, as defined in the EU Strategy on China, which was adopted in 2016 and calls for an increased cooperation on climate change, including climate change adaptation and mitigation and environmental protection. It is also in line with China's 13th Five-Year Plan (2016-2020), which includes green growth as a primary target to increase forest coverage rate to 23% and forest stock to 16.5 billion m3.

Investment Description
  • European Investment Bank (EIB)
Contact Information

*No project contact information is available at this stage*

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