MIRO FORESTRY DEVELOPMENTS LIMITED
Status: Completed investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Our client is Miro Forestry Development Ltd. (“Miro”), one of the largest forestry plantation companies in West Africa, with currently manages approx. 10,000 ha planted. Miro’s aim is to create sustainable forestry whilst maintaining the highest levels of conservation and environmental protection.
What is our funding objective?
The objective is to finance a 2-year pilot of the first micro-forestry scheme in Ghana and Sierra Leone together with IDH. The aim is to prove the viability of an inclusive and scalable tree-planting scheme whilst supporting voluntary smallholders to plant small woodlots of 0,5ha. Following the two-year pilot, the expectation of the project is to grow steadily to result in 750ha of community planted woodlots involving at least 500 smallholders/community members by year-end 2022.
Why do we fund this investment?
This project is aligned with FMO’s MASSIF strategy, because FMO aims to support the company in the process of designing and implementing a micro-forestry scheme, which has tremendous potential to contribute to sustainable socioeconomic development and capacity improvement in rural areas in Ghana and Sierra Leone. This mutually beneficial forestry partnership is an innovative way to align the local communities’ interests with Miro’s objectives and creates additional value for all stakeholders involved.
More investments
| Date | Total FMO financing |
|---|---|
| 12/6/2021 | EUR 0.03 MLN |
| 8/24/2022 | EUR 0.10 MLN |
| 5/20/2020 | USD 10.48 MLN |
| 5/20/2020 | USD 5.00 MLN |
| 9/14/2020 | USD 1.04 MLN |
| 9/14/2020 | USD 12.60 MLN |
- Region
- Africa
- Country
- Ghana
- Sector
- Energy
- Effective date
- 12/18/2018
- End date
- 8/24/2022
- Total FMO financing
- EUR 0.20 MLN
- Funding
- ForeignAffairs - CD
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B+