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    € 30,000,000
    Luxembourg : € 30,000,000
    Signature date(s)
    11/05/2009 : € 30,000,000
    Link to source

    Summary sheet

    Release date
    4 July 2008
    Signed | 11/05/2009
    Project name
    Promoter - financial intermediary
    Dasos Timber Land Fund I SA

    Dasos capital Oy

    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 30 million.
    EUR 300 million.

    The proposed project is an investment fund providing equity and quasi-equity for the acquisition of timberland assets principally located within the EU and Russia but also in other global regions.

    The objectives of the fund are to establish a diversified portfolio of timberland assets. These investments will contribute in particular to EU and EIB priority objectives with regard to the environment and to combating climate change whilst at the same time aiming to provide an attractive return for investors.

    Environmental aspects

    In the EU, initial afforestation and reforestation for the purposes of conversion to another type of land use falls under Annex II of the EIA Directive 85/337/EEC amended by Directives 97/11/EC and 2003/35/EC. The decision of the Competent Authority whether to require an EIA on the basis of Annex III of the Directive will be assessed, as well as the possible impacts on protected flora and fauna (Habitats’ 92/43/EEC and Birds’ 79/409/EEC Directives). The same approach and principles as contained in EU law will be applied outside EU.

    The Fund’s investment guidelines will be required to ensure that contracts for the implementation of individual schemes have been tendered in accordance with the relevant EU legislation, including publication of tender notices in the EU Official Journal, as and where appropriate. Details will be verified during appraisal.

    Link to source


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