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.
