Home Miro Forestry Developments Limited Miro Forestry Developments Limited In brief Miro Forestry Developments Limited is a forestry company with two subsidiaries in Ghana and Sierra Leone. Miro is a vertically integrated, sustainable forestry and timber products business focused on fast-growing, high-yield plantation timber to produce sawn timber, utility poles and plywood for both local and international markets. Miro has demonstrated competence in land preparation, planting, forestry management and species selection, successfully planting over 15,000 hectares. Finnfund has invested in Miro since 2014. The new funding is deployed to expand Miro’s plantation area and to increase downstream processing capacity Main development impact Climate change mitigation and landscape restoration. Significant increase in plywood and utility pole production replacing imports. Support to local economies through rural job creation, local purchases, salaries to local staff, taxes to local governments and benefit-sharing agreements with local communities. Investment details Name: Miro Forestry Developments Limited Project number: 80000092 Region: Africa Country: Ghana, Sierra Leone Sector: Forestry Signing date (month/year): February 2020 Currency: USD Finnfund's financing (commitment): 8,000,000 Instrument: Equity Size of the project financing: USD 52,000,000 Share of Finnfund's financing (%): 15 % Status: Active Please note, that in principle, this information is given at the time of signature according to Finnfund's disclosure policy. However, in the case of investment funds, the share of Finnfund’s financing (%) is disclosed after the fund’s final closing, and information on the portfolio companies financed by the fund is updated at least once a year. Other investments Name Country Signing date (month/year) Currency Finnfund's financing (commitment) Instrument Miro Forestry Developments Limited Ghana, Sierra Leone 2014 Miro Forestry Developments Limited Ghana, Sierra Leone 2015 Miro Forestry Developments Limited Ghana, Sierra Leone October 2022 USD 6,000,000 Equity February Read our transparency and disclosure policy More information: News Current investments Business sectors Contact us Key facts Name: Miro Forestry Developments Limited Sector: Forestry Region: Africa Country: Ghana, Sierra Leone Currency: USD Finnfund's financing (commitment): 8,000,000 Signing date (month/year): February 2020 Last update: May 2020