Project detail - MIRO FORESTRY DEVELOPMENTS LIMITED

MIRO FORESTRY DEVELOPMENTS LIMITED

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Who is our client

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.

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 we fund this project

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
8/28/2020 EUR 0.10 MLN
5/20/2020 USD 10.48 MLN
5/20/2020 USD 5.00 MLN
2/7/2020 USD 1.04 MLN
11/19/2018 USD 12.60 MLN
Region
Africa
Country
Ghana
Sector
Energy
Signing date
12/18/2018
Total FMO financing
EUR 0.20 MLN
Fund
ForeignAffairs - CD
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+