Form Ghana Restoration Project secures major AfDB funding
In July 2017, we had the fabulous news from the African Development Bank (AfDB), approving the loan to extent the reforestation project in Ghana. This is considered a breakthrough in Climate Financing. For the AfDB the USD24 million loan to the Form Ghana project represents the first Private Sector direct investment in restoration of degraded forests, and the first Forest Investment Program (FIP) private sector project in Africa. Form Ghana will use the loan in the restoration and extension of the area of sustainably managed forest. In about 10 years’ time, this reforestation project will provide timber, and with the timber revenues the loan will be paid off. Unlocking capital flows for forest development in Africa
The African Development Bank (AfDB) and the Climate Investment Funds’ Forest Investment Program (CIF FIP) have released a report on how unlocking capital flows to foster forest sector development in Africa. The report builds on the results of the first African Forestry Investment Conference (AFIC) organized by AfDB, mid-2017 in Accra, Ghana. Attended by over 70 participants, the conference highlighted the benefits of forestry investments in Ghana and in West Arica.
During the conference, the key features of the recently announced US $24 million AfDB and CIF FIP loan to the forest plantation management company Form Ghana were showcased as a pioneer private-public partnership project in this sector.
More on the African Forestry Investment Conference: Unlocking capital flows for forest development in Africa The knowledge product out of the conference All presentations Article on the AfDB Form Ghana approval Global Landscape Forum – Bonn 2017
The Form Ghana case serves as an example of Landscape Restoration, in which the participatory approach, formalised through PPP’s, plays a vital role. On 19 and 20 December 2017 the case has been presented at the Global Landscape Forum in Bonn, by Form International’s Executive Director Paul Hol.