In brief
Forest First Colombia is establishing a large-scale forest plantation in Vichada Province, Colombia. The Company will plant its land area with fast-growing hardwood tree species for various uses such as pulp, bioenergy and fibreboard. The Company uses modern technology and sustainable forest management practices and has an experienced international forestry management team. All native forest areas are set aside for conservation purposes.
Main development impact
In addition to contributing to climate change mitigation, FFC employs a significant number of people both directly and indirectly. Despite the early stage of the project, FFC already contributes to the Colombian economy by purchasing locally and paying taxes. The company works with local communities to improve healthcare, education, skills development and entrepreneurial opportunities. The company manages its forests sustainably and will certify them (FSC) before starting the harvesting operations.Investment details
| Name: | Forest First Colombia |
|---|---|
| Project number: | 80000058 |
| Region: | Latin America and the Caribbean |
| Country: | Colombia |
| Sector: | Forestry |
| Signing date (month/year): | August 2017 |
| Currency: | USD |
| Finnfund's financing (commitment): | 10,000,000 |
| Size of the project financing: | USD 80,000,000 |
| Share of Finnfund's financing (%): | 11,10 % |
| Status: | Active |
| Website: | www.forestfirst.com |
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.
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