World Bank increases investment guarantees for EcoPlanet Bamboo in Nicaragua to $48.8 million

市場: 标准木材
Posted 六月 26, 2015
Jun 28, 2015. /Lesprom Network/. The Multilateral Investment Guarantee Agency (MIGA), the political risk insurance and credit enhancement arm of the World Bank Group, has nearly doubled its guarantees to $48.8 million in support of EcoPlanet Bamboo Group’s investment in Nicaragua. The project’s expansion involves the continued purchase of degraded land, and its conversion into fully functioning ecosystems through the development of independently certified, sustainable plantations and the manufacture of tree-free fiber and associated products for export. MIGA’s cover is for a period of up to 15 years against the risks of expropriation, war and civil disturbance, as the company says in the press release received by Lesprom Network.

EcoPlanet Bamboo Group began its operations in Nicaragua in 2010 with the establishment of a commercial bamboo nursery followed by the first purchase and development of degraded land. The company’s Forest Stewardship Council-certified fiber will be exported to U.S. and multinational timber manfacturers for use in industries such as pulp production for textiles and paper, laminates and composites, activated carbon, and renewable energy generation.

EcoPlanet Bamboo Group’s investment into Nicaragua has already created hundreds of jobs in a region with high unemployment. The project has also restored over 8,500 acres of degraded land—improving biodiversity and reducing pressure on surrounding forests. EcoPlanet Bamboo Group has received validation of 1.5 million tons of atmospheric carbon dioxide under the Verified Carbon Standard by the Rainforest Alliance as well as its first verification of these climate change benefits.

Troy Wiseman, EcoPlanet Bamboo Group’s CEO, said, “MIGA’s backing has given us the ability and confidence to more than triple our original investment in Nicaragua and move forward with other international expansions in both Southern and West Africa.” He continued, “We’re investing very significantly on research and development as we work with our Fortune-500 clients to help them transition from timber and fiber originating from the harvesting of natural forests, to a solution that meets their technical specifications, quality, and price— so that together we can really make a dent in deforestation.”

EcoPlanet Bamboo is leading the industrialization of bamboo as a viable and environmentally attractive alternative fiber for timber manufacturing industries.



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