Release date: 4 July 2008
Promoter – Financial Intermediary
Dasos capital Oy
Location
Description
The proposed project is an investment fund providing equity and quasi-equity for the acquisition of timberland assets principally located within the EU and Russia but also in other global regions.
Objectives
The objectives of the fund are to establish a diversified portfolio of timberland assets. These investments will contribute in particular to EU and EIB priority objectives with regard to the environment and to combating climate change whilst at the same time aiming to provide an attractive return for investors.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 30 million.
Total cost (Approximate amount)
EUR 300 million.
Environmental aspects
In the EU, initial afforestation and reforestation for the purposes of conversion to another type of land use falls under Annex II of the EIA Directive 85/337/EEC amended by Directives 97/11/EC and 2003/35/EC. The decision of the Competent Authority whether to require an EIA on the basis of Annex III of the Directive will be assessed, as well as the possible impacts on protected flora and fauna (Habitats’ 92/43/EEC and Birds’ 79/409/EEC Directives). The same approach and principles as contained in EU law will be applied outside EU.
Procurement
The Fund’s investment guidelines will be required to ensure that contracts for the implementation of individual schemes have been tendered in accordance with the relevant EU legislation, including publication of tender notices in the EU Official Journal, as and where appropriate. Details will be verified during appraisal.
Status
Signed - 11/05/2009
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).