Prosperidad Peru (GCF-FP-999)

Countries
  • Peru
Geographic location where the impacts of the investment may be experienced.
Specific Location
Cajamarca
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
  • Green Climate Fund (GCF)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Mar 28, 2022
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
MUFG Bank, Ltd
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
  • Climate and Environment
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
Not Disclosed
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ GCF website

Updated in EWS Feb 2, 2022

Disclosed by Bank Dec 24, 2021

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The Project consists of establishing agreements with private landowners in the Cajamarca region, in northern Peru, for the use of 3,000 ha of existing pine forests and for the establishment of 750 ha of new plantations in areas which are currently free.

In order to maintain wood production over time, the project includes the replanting of the areas that are harvested, after a rotation period of approximately 20 years.

The project also provides for the installation of an industrial plant on the outskirts of the city of Cajamarca, for sawmilling and processing the produced wood. Among the owners of land and forests which have been identified as having potential interest for the establishment of agreements, there are Minera Yanacocha SRL, the Llullapuquio Agricultural Workers Cooperative and the José Carlos Mariátegui Agricultural Society of Social Interest (SAIS). Arbaro still needs to negotiate and define the areas of forest and land that will be included in the agreements with each of these owners.

The main activities of the Project are the following:
- Installation and management of forest nurseries
- Opening of forest roads
- Establishment of new plantations and replanting of harvested areas
- Maintenance and pruning of plantations
- Thinning of plantations
- Final felling, log extraction and transport to the sawmill
- Sawmilling and processing of roundwood produced

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Arbaro Fund

Carl-von-Noorden-Platz 5
60596 Frankfurt am Main
Germany

 

Email: info@arbaro-advisors.com
Phone: +49 69 667737 508 

Webpage: https://www.arbaro-advisors.com/contact/

MUFG Bank, Ltd

https://www.mufgemea.com/contact/

How it works

How it works