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Projects

Summary of proposed guarantee

Summaries of proposed guarantees are provided prior to Board consideration and before final contract signing, and they are therefore subject to change. Project briefs are disclosed after Board consideration and contract signing and reflect the terms of the project at the time of contract signature. Environmental and Social Review Summaries are provided for projects assigned an Environmental Assessment Category of A or B.

 

Project name
EcoPlanet Bamboo
Project ID
10120
Fiscal year
2013
Status
Active
Guarantee holder
EcoPlanet Bamboo Group, LLC
Investor country
United States
Host country
Nicaragua
Environmental category
B
Sector
Agribusiness
Date SPG disclosed
November 16, 2012
Project Board date
December 18, 2012
Gross exposure
 $27.0 million
Project type
Non-SIP
Strategic priority area
IDA
ESRS
Environmental and Social Review Summary for for EcoPlanet Bamboo

This summary covers an investment in Nicaragua by EcoPlanet Bamboo Group, LLC of the United States. The investor has applied for a MIGA guarantee of $27 million for a period of up to 15 years against the risks of expropriation and war and civil disturbance.

The project consists of the purchase and conversion of degraded land in Nicaragua into functioning bamboo plantations for the sale of bamboo fiber for export. EcoPlanet Bamboo Group LLC (EPB Group) plans to establish a pre-processing facility to produce bamboo strips, wood chips, and pellets used by wood manufacturers.  Waste and lower value culms will be processed into charcoal to fuel the company’s processing operations.

Environmental Categorization

The project is a category B under MIGA’s Policy on Social and Environmental Sustainability. Click here to view the Environmental and Social Review Summary.

Development Impact

The proposed project is expected to directly employ people living in close proximity to the plantation sites where poverty levels are high and good employment opportunities are limited. EPB Group is also committed to investing in training programs and supporting local community development initiatives.

The proposed project is aligned with the World Bank Group’s Country Assistance Strategy for Nicaragua, which aims to accelerate private sector development—including through assistance to exporters and hard currency earners such as agribusiness projects.

MIGA’s participation in the project is also aligned with the Agency’s commitment to support investment into countries eligible for concessional lending from the International Development Association.

 
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