Release date: 28 June 2023
Promoter – Financial Intermediary
MIROVALocation
Description
The project consists in an impact thematic fund that will invest in sustainable land-use projects (incl. value-chain), across Latin America, Africa and Asia, and, to a lesser extent, OECD countries.
Objectives
The aim is to provide long-term financing to sustainable land use projects in developing countries. Investments will mainly cover sustainable forestry, agroforestry and regenerative agriculture, including other sustainable land-use projects (e.g. green infrastructure and ecotourism), promoted by the Kunming-Montreal Global Biodiversity Framework (GBF).
Sector(s)
- Agriculture, fisheries, forestry - Agriculture, forestry and fishing
Proposed EIB finance (Approximate amount)
EUR 5 million
Total cost (Approximate amount)
EUR 350 million
Environmental aspects
The fund will invest in sustainable land-based production systems, innovative social enterprises generating revenues through the production of tangible goods, including projects with both environmental (climate, biodiversity) and social impacts (inclusion of local communities). As a result, the fund will significantly contribute to achieve land degradation neutrality within the terms of the GBF. The fund's environmental and social strategy will be evaluated during appraisal and projects will be required to meet international best practice standards, including third-party verified certification as appropriate.
Procurement
The EIB will require the promoter to ensure that implementation of the project will be done in accordance with the EIB's Guide to Procurement.
Status
Under appraisal - 31/05/2023
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).