Release date: 22 May 2015
Promoter – Financial Intermediary
PUBLIC ENTITY(IES)Location
Description
The project is to afforest 31,125 ha of barren forest land and abandoned agricultural land, and rehabilitate 245 ha of burned and degraded forest land. The total project area is 31,370 ha and the project areas are located in 15 counties of the Shandong Province. The project is an allocation under the China Climate Change Framework Loan (CCCFL) (2006-0086).
Objectives
The project objectives are aligned with CCCFL targets of climate change mitigation by sequestering carbon and decreasing CO2 emissions. Adaptation to climate change is addressed by increasing forest areas and their resilience to changing weather conditions. The project thus delivers an important contribution to the Bank's Climate Action objective. The project contributes to the socioeconomic development of the Shandong Province with a focus on remote rural areas and villagers living in poverty.
Sector(s)
- Agriculture, fisheries, forestry - Agriculture, forestry and fishing
Proposed EIB finance (Approximate amount)
EUR 33 million
Total cost (Approximate amount)
EUR 66 million
Environmental aspects
The project is to plant over 30 native tree species on bare or abandoned forest lands, and on areas of the Yellow River delta which are subject to salt formation and desertification. The goal is to improve the structure and resilience of degraded forest land and habitats, so as to withstand harsh climatic conditions in Shandong Province, which is classified as a marine disaster-prone province in China. The project advocates environmentally and socially sustainable management and supports related capacity-building.
Procurement
The Bank will require the promoter to ensure that implementation of the project will be done in accordance with the Bank's Guide to Procurement.
Status
Approved - 24/07/2015
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).