Release date: 26 September 2008
Promoter – Financial Intermediary
Ministry of FinanceLocation
Description
This project is a proposed loan allocation under the China Climate Change Framework Loan (CCCFL). Two subprojects are considered:
1 - A carbon sequestration afforestation subproject in arid or semi-arid areas:
The subproject consists of the establishment of approximately 35.000 ha of permanent plantations for wood and fruit production purposes and the related capacity building activities. The project will be developed in nine counties of the Inner Mongolia Autonomous Region.
2 - Forestation and bio-energy development subproject:
The subproject concerns the establishment of some 39,000 ha of plantation for consumption oil and bio-diesel production and some R&D and capacity-building activities. The project will be implemented in 19 counties of the Jiangxi Province.Objectives
The project supports EU and Bank policy objectives with regard to combating climate change and promoting renewable energy generation. The operation is eligible under the ALA mandate in line with the core objectives of contributing to environmental sustainability.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 50 million.
Total cost (Approximate amount)
EUR 90 million.
Environmental aspects
The key objective of this operation is to support projects that help to mitigate climate change and to support sustainable economic development. Most individual schemes to be financed will be small afforestation schemes and are expected to have limited environmental impacts. However, a Strategic Environmental and Social Impact Assessment (SESIA), following the content of the Stategic Environment Impact Directive, will be carried out by the promoter for each project in order to establish the criteria of intervention. The investment schemes shall be prepared in line with the relevant national and EU environmental standards, including due consideration for protection of sites of nature conservation. The adequate mitigating measures in social and environmental aspects will be established in the SESIA and put in place by the promoter.
Procurement
Procurement will be undertaken in accordance with the Bank’s Procurement Guidelines.
Status
Under appraisal - 26/09/2008
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).