Signature(s)
Summary sheet
- Agriculture, fisheries, forestry - Agriculture, forestry and fishing
The project aims at protecting, rehabilitating and expanding forests in Côte d'Ivoire through the financing of selected capital-intensive structural investments and soft-asset investments of a comprehensive national reforestation and forest rehabilitation programme.
This operation aims to finance selected elements of a comprehensive national forests rehabilitation programme in Côte d'Ivoire, which is expected to increase the country's forest cover by 2.9 million hectares (i.e. 20% of the Ivorian landmass) over the period 2021-2030. The plan supports the implementation of the National Strategy of Conservation, Restoration and Expansion of Forests (SPREF, 2019), which aims at halting and reversing the high deforestation rate of the country.
The operation aims at mitigating the substantial market failures that have led to the current deforestation situation in Côte d'Ivoire by strengthening the supply of public goods from forests, as well as promoting the generation of environmental, social and economic externalities through investments in sustainable forest management (or SFM) practices.
The project is coherent and aligned with EU policies and relevant programming documents, as well as with the strategies and policies of partner country, as required by Article 35(1) of the Regulation on Neighbourhood Policy, Development and International Cooperation - Global Europe. The operation contributes to EU priorities in Côte d'Ivoire under the 2021-2027 Multiannual Indicative Programme, in particular to the Team Europe Initiative (TEI) "Sustainable Cocoa" and the TEI "Low Carbon Transition" in Côte d'Ivoire.
The EIB will provide the borrower with advantageous pricing terms and loan maturities in line with a long-term financing strategy, adapted to the economic life of the project.
The project is expected to contribute to the EIB's climate action (mitigation and adaptation) and to environmental sustainability objectives (protection and restoration of biodiversity and ecosystems). To be further assessed during appraisal. The EIB appraisal team will also explore possibilities to promote positive impact on gender equality within the remits of the investments in line with the Bank's policies. The EIB will require the Promoter to comply with the EIB Environmental and Social Standards.
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.
Under EFSD+ Guarantee