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    Summary sheet

    Release date
    20 May 2021
    Status
    Reference
    Under appraisal | 05/05/2021
    20190780
    Project name
    Promoter - financial intermediary
    HENAN FOREST RESOURCE DEVELOPMENT
    HENAN PROVINCE
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 150 million
    EUR 301 million
    Location
    Sector(s)
    Description
    Objectives

    The project will finance the afforestation of degraded lands and improve the health and resilience of forest ecosystems through sustainable forest management in the Yellow River Basin of Henan Province. The project covers an area of about 95,000 ha and the implementation period is 2022-2026.

    The project (under appraisal) is driven by the need for environmental protection and enhancement of the Yellow River Basin and areas with high risks for desertification and soil erosion in Henan Province. It aims to support climate change mitigation and improve the resilience of forest ecosystems to changing weather conditions (climate adaptation). The project is expected to contribute 100% to Climate Action and Environment Sustainability transversal objectives under the EIB Climate Bank Roadmap. Tackling climate change is a key priority for both the EU and China. The project would be fully in line with the 2016 EU Strategy on China, the EU-China 2020 Strategic Agenda for Cooperation, the 2019 EU-China: A Strategic Outlook and the 2015/2018/2019 EU-China Joint Statements, which call for strengthening EU-China dialogue/cooperation in the area of climate change, sustainable development, environment protection and biodiversity. It is expected to be in line with the EU Biodiversity Strategy and EU Strategy on Adaptation to Climate Change (2021). The project would also contribute to the UN Sustainable Development Goals (SDG), particularly SDGs 13 and 15.

    Environmental aspects
    Procurement

    The project will have to comply with the EIB's environmental and social (E&S) requirements. The E&S aspects and permitting situation as well as the demands and requirements of the competent local environmental authorities will be part of the Bank's usual project due diligence.

    The Promoter has to ensure that the project is implemented in accordance with the EIB's Guide to Procurement.

    Comments

    The project is known in China as "EIB Forest Resource Development and Ecological Service Project in Henan Province."

    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).

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    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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