With the financing, Miro will be able to restore degraged land, expand its planted area and set up new plywood and pole production facilities. The other investors in the transaction were FMO, the Dutch Fund for Climate and Development (DFCD), CDC and Finnfund.
Many of the natural forests of West Africa have disappeared while the population continues to grow, keeping demand for wood high. Remaining forest resources cannot sustainably satisfy demand. Miro’s timber plantations increase supply while conserving environmentally-sensitive areas. It has already planted more than 17,000 hectares of FSC-certified eucalyptus, acacia, gmelina and teak across Ghana and Sierra Leone.
Read the full news release now at the link below