Release date: 20 March 2018
Promoter – Financial IntermediaryMIROVA,UNITED NATIONS CONVENTION TO COMBAT DESERTIFICATION
The project consists of the investment in a fund targeting sustainable land use projects, promoted by the United Nations Convention to Combat Desertification (UNCCD). The operation is to be carried out under the Luxembourg-EIB Climate Finance Platform trust fund.
The fund aims to provide long-term financing in sustainable land use projects worldwide (especially in the African, Caribbean and Pacific group of States (ACP), in Asia and in Latin America) using mainly a combination of project finance and structured commodity finance techniques.
- Agriculture, fisheries, forestry - Agriculture, forestry and fishing
Proposed EIB finance (Approximate amount)
USD 6 million (EUR 5 million)
Total cost (Approximate amount)
USD 300 million (EUR 243 million)
The Fund will invest in sustainable land use projects, focusing in particular on sustainable agriculture and forestry, land reclamation and sustainable energy. It is mission-driven to deliver a strong contribution to the achievement of land degradation neutrality within the terms of the UNCCD. The Fund's environmental and social strategy has been evaluated during the appraisal, and projects will meet international best practice standards, including third-party verified certification as appropriate.
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.
Signed - 14/12/2018
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).