Release date: 19 December 2006
Promoter – Financial Intermediary
Kolombangara Forest Products Ltd
The project is to assist with the rehabilitation of a commercial plantation and is situated in the Western Province of the Solomon Islands.
The project comprises the rehabilitation of approximately 3,750 hectares of poor quality tropical hard wood plantation and the replacement of ageing equipment. It further supports community based sustainable management of natural forests aiming at developing best harvesting and marketing practice, and is estimated to cost around EUR 7,9 million.
Proposed EIB finance (Approximate amount)
EUR 3,5 million.
Total cost (Approximate amount)
EUR 7,9 million.
This project is to rehabilitate an existing plantation on degraded logged land and is to reconstitute the forest cover. At the same time KFPL is helping to maintain existing protected areas on Kolombangara that have a high biological priority and link with existing forest conservation and sustainable forest management work. In line with the Bank’s forestry policy, KFPL complies with the Forest Stewardship Council’s principles on environmental and social impact and sustainability..
The promoter has agreed to comply with the Bank’s procurement guidelines.
Signed - 19/12/2006
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).