ADB is investing in the Tropical Asia Forest Fund Two, which focuses on sustainable plantation forestry in Indonesia, Laos, Cambodia Vietnam and Malay.
ADB signed a $15 million equity investment in TAFF2 to support sustainable forestry practices in Southeast Asia and reduce logging in natural tropical forests by helping sustainably managed plantation companies scale up operations.
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Source: ADBThe investment comprises USD5 million from ADB’s ordinary capital resources and USD10 million from the Australian Climate Finance Partnership (ACFP) trust fund. TAFF2 investments will target climate adaptation as well as climate mitigation. Opportunities will be sought in Cambodia, Indonesia, the Lao People’s Democratic Republic, Malaysia, Thailand, and Viet Nam “Investment in sustainable forestry is limited in developing countries due to market, political, and natural resource risks,” said ADB Private Sector Investment Funds and Special Initiatives Director Janette Hall. “ADB’s investment will enable best practice forestry companies that currently lack access to growth capital to engage in commercial, sustainable forestry. It will help to improve the livelihoods of forestry workers and communities, enhance biodiversity, and deliver climate outcomes through reduced logging of natural forests.”With a target size of USD300 million, the fund intends to invest in