Green Resources AS
Region and country of operations: Africa
Jurisdiction of registration: Norway
Business sector: Forestry and wood products
|Date of agreement||Finnfund’s financing||Share of Finnfund’s financing||Size of project/financing|
|2/2018||USD 1,100,000||50%||USD 2,200,000|
|6/2018||USD 2,450,00||50%||USD 4,900,000|
|2012||not disclosed||not disclosed||not disclosed|
Environmental and social category: A
The company’s main operations are plantation development and forest products industry. The company’s plantations extend to over 40,000 hectares in its’ three country operations. The company operates East Africa’s largest sawmill, briquette plant and pallet factory in Tanzania as well as electricity pole and charcoal plants in Mozambique, Tanzania and Uganda, and is also one of the first companies globally to receive carbon revenue from its plantation forests.
Main development impact
The company employs directly some 2,112 people (of which 451 women) and indirectly 1,350 people (of which 415 women) in rural areas where other employment opportunities are few. The plantations also have positive climate impact and help protect natural forests.