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    Reference: 20140642
    Release date: 22 May 2015

    Promoter – Financial Intermediary

    PUBLIC ENTITY(IES)

    Location

    Description

    The project establishes 19,140 hectares of new forests on environmentally vulnerable barren hills, eroded slopes and abandoned agricultural lands in the upper reaches of the Yellow River basin in Shanxi province in China. The project is an allocation under the China Climate Change Framework Loan (CCCFL, 2006-0086).

    Objectives

    The project objectives are aligned with CCCFL climate change mitigation targets by sequestering carbon and decreasing CO2 emissions. Adaptation to climate change is addressed by increasing forest area and enhancing resilience to changing weather conditions. The project thus delivers an important contribution to the Bank's Climate Action objective. The project contributes to the socioeconomic development of the Shanxi province with a focus on remote rural areas and villagers living in poverty.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 25 million

    Total cost (Approximate amount)

    EUR 50 million

    Environmental aspects

    The project is to establish new shelter forests on abandoned and low-yielding lands so as to protect ecologically fragile degraded habitats, strengthening the resilience of local ecosystems to severe weather events and protecting against soil erosion. In addition to the soil and habitat protection, the project will supply forest fruits and timber. At least 12 different native species will be planted. The project advocates environmentally and socially sustainable management and supports related capacity building.

    Procurement

    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.

    Status

    Approved - 24/07/2015

    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).

    Related tags

    China Agriculture, fisheries, forestry