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KOLOMBANGARA FORESTRY PROJECT

Signature(s)

Amount
€ 3,500,000
Countries
Sector(s)
Solomon Islands : € 3,500,000
Agriculture, fisheries, forestry : € 3,500,000
Signature date(s)
12/12/2006 : € 3,500,000

Summary sheet

Release date
19 December 2006
Status
Reference
Signed | 19/12/2006
20050312
Project name
Promoter - financial intermediary
Kolombangara Forestry Project
Kolombangara Forest Products Ltd
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 3,5 million.
EUR 7,9 million.
Location
Sector(s)
Description
Objectives

The project is to assist with the rehabilitation of a commercial plantation and is situated in the Western Province of the Solomon Islands.

The project comprises the rehabilitation of approximately 3,750 hectares of poor quality tropical hard wood plantation and the replacement of ageing equipment. It further supports community based sustainable management of natural forests aiming at developing best harvesting and marketing practice, and is estimated to cost around EUR 7,9 million.

Environmental aspects
Procurement

This project is to rehabilitate an existing plantation on degraded logged land and is to reconstitute the forest cover. At the same time KFPL is helping to maintain existing protected areas on Kolombangara that have a high biological priority and link with existing forest conservation and sustainable forest management work. In line with the Bank’s forestry policy, KFPL complies with the Forest Stewardship Council’s principles on environmental and social impact and sustainability..

The promoter has agreed to comply with the Bank’s procurement guidelines.

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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