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Summary sheet

Release date
4 November 2014
Status
Reference
Approved | 03/02/2015
20130496
Project name
Promoter - financial intermediary
CFFL - CHONGQING FORESTS
The borrower is the People's Republic of China, represented by the Ministry of Finance, who will on-lend to the Chongqing Municipality. The project will be implemented by the Chongqing Forestry Department.
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 30 million
EUR 60 million
Location
Sector(s)
Description
Objectives

The project is the fourth allocation under the China Forestry Framework Loan (CFFL). It aims to establish 7,800 ha of forest plantations on abandoned, degraded agricultural land and on erosion-prone forest lands. The new plantations consist of fruit trees (5,225 ha), timber and bamboo stands (1,287 ha), and medicinal plants/trees (1,288 ha).

Besides providing the necessary economic benefits for the local farmers and villages to commit to the project, the project is expected to have a positive environmental impact through increased forest cover and sustainable management practices so as to combat soil erosion and land impoverishment, while improving water quality and healthier water ecosystems in the rivers. Forest carbon sequestration will help mitigate climate change, in line with EU policies.

Environmental aspects
Procurement

The objective of the project is to plant trees to establish forest cover on environmentally fragile mountain slopes and abandoned, degraded agricultural lands. The plantations are expected to comprise native fruit trees, bamboo and timber-producing trees, and species producing ingredients for Chinese medicine. The project imposes environmentally and socially sustainable management and supports related capacity-building. It is expected to generate income and employment for rural people and reduce pressure to emigrate.

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.

Related projects
Link to source

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).

Documents

Environmental and Social Data Sheet (ESDS) - CFFL - CHONGQING FORESTS
Publication Date
11 Dec 2014
Document language
Main Topic
Lending
Document Number
56476453
Document Focus
Environmental Information
Project Number
20130496
Countries
Publicly available
Download now
Environmental and Social Completion Sheet (ESCS) - CFFL - CHONGQING FORESTS
Publication Date
21 Dec 2023
Document language
Main Topic
Lending
Document Number
185423974
Document Focus
Environmental Information
Project Number
20130496
Countries
Publicly available
Download now
Other links

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.

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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 Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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