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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.

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative 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
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