Major events 1H 2009

Framework agreement in Mozambique

An agreement to develop a 125,000 ha forest plantation in Northern Mozambique on up to 200,000 ha of land was signed with the Ministry of Agriculture, the second such agreement made in Mozambique.

USD 25mn financing with IFC and Norfund

Green Resources signed agreements for ten-year loans with the IFC and Norfund for the development of plantations and industrial operations in Tanzania’s Southern Highlands. This is the IFC’s largest ever loan to a private company in Tanzania.

World’s first VCS validated forestry project

In July, the Mapanda/Uchindile forest project was the first such project in the world outside of the US to receive VCS validation, the leading standard for voluntary carbon projects. The project will generate 3.5mn tCO2 offsets through 2020.

Agreement with Norwegian Peace Corps

Concluded an agreement for North-South and South-South co-operation, including eight exchange candidates.

Contract for sale of carbon credits

Agreed to sell temporary CERs to Norway from the Idete CDM reforestation project, pending project approval.

Harvesting from our own forests

Extensive harvesting began in our Ugandan and Tanzanian forests, logging almost 20,000 eucalyptus poles.

Expansion in Tanzania and Sudan

Title awarded for 15,000 ha land in Tanzania’s Southern Highlands and for a large reforestation and conservation project in Southern Sudan.

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