|Approval Date||13 Jul 2016|
|Signature Date||07 Mar 2017|
|Sovereign / Non-Sovereign||Non Sovereign|
|Sector||Agriculture and Rural Development|
|DAC Sector Code||31110|
The Form Ghana Reforestation Project aims at the restoration of degraded forest reserves by establishing a large scale sustainable commercial forest plantation (11 ,700 ha) composed of (10% indigenous tree species and 90% teak) in collaboration with the Government of Ghana (GoG) through the Forestry Commission of Ghana (FC). About 14,000 ha of degraded forest land has been acquired in Akumadan and Berekum, North of Kumasi, through a 50-year renewable land lease accompanied by tripartite commercial Benefit Sharing Agreements (BSA) between GoG, local communities and the project. The project will initially focus on production of billets, poles and high quality round logs for local and export markets. This project is an innovative opportunity to catalyze private sector involvement in climate change mitigation and green growth efforts by supporting a scalable concept in a region with high potential for demonstration and replication. It is being implemented by Form Ghana Ltd (Project Company) in close collaboration with the Government of Ghana through the Forestry Commission. It is the first FSC certified Plantation Company in Ghana and West Africa, and it is already producing Carbon Credits as per VCS standards.
The objective of the project is to establish and manage 11,700 ha of sustainable commercial forest plantation composed of 10% indigenous tree species and 90% teak.
The main beneficiary of the project is the population of Ghana. The project is expected to create 860 jobs (320 permanent workers and 540 casual/contract workers) mostly for the fringe communities where livelihood is predominantly subsistent, hence improving household incomes. This increase in people with stable wages will increase local spending and create an inductive environment for the development of services.
African Development Bank
|Last Update||29 Jul 2021|