Release date: 6 October 2008
Promoter – Financial Intermediary
Societé des Plantations de Mbanga (SPM)
Location
Description
The project comprises the expansion by some 500 hectares of banana plantations on leased land as well as field and factory improvements on the existing plantations (approximately 900 hectares).
Objectives
The objective of the project is to increase the productive capacity by not only increasing the plantation area but also improving yields. The project will also provide social benefits, in particular it will create large employment opportunities and help to alleviate poverty in the surrounding rural areas.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 4.1 million.
Total cost (Approximate amount)
EUR 10.6 million.
Environmental aspects
The project expansion is planned in areas that were formerly exploited by the local population who used the land for modest farming of roots and tubers. The land has been leased by SPM from the local chiefs, who hope that villagers will benefit not only from the direct rental income from the land but also from the job opportunities that the expansion will create as well as the improved infrastructure that will be put in place. An independent EIA was conducted, and found that the project would not represent any significant environmental impact.
Procurement
Works and equipment will be procured through direct negotiation with national and International suppliers, in view of the type and size of the contracts.
Status
Signed - 29/12/2008
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).