Forest First Colombia
Region and country of operations: Colombia
Jurisdiction of registration: Colombia
Business sector: Forestry and wood products
Date of agreement (month/year): 8 /2017
Finnfund’s financing: USD 10,000,000
Share of Finnfund’s financing: 11.1%
Size of project/financing: USD 80,000,000
Environmental and social category: A
Forest First Colombia is establishing a large scale forest plantation in Vichada Province, Colombia.
The Company will plant its land area with fast growing hardwood tree species for various end uses such as pulp, bioenergy and fibreboard. The Company uses modern technology and sustainable forest management practices and has an experienced international forestry management team. All native forest areas are set aside for conservation purposes.
Main development impact
FFC employs a significant number of people both directly and indirectly. Despite the early stage of the project, FFC already contributes to the Colombian economy by purchasing locally and paying taxes. The company is working with local communities on improving healthcare, education, skills development and entrepreneurial opportunities. The company manages its forests sustainably and will certify (FSC) them before starting the harvesting operations.