Press release

Silva Tree Princess Project Socioeconomic Plans Finalised

Updated on Monday 22nd of February 2010

www.silvatree.com

Having spent December 2009 in Panama, Silva Tree’s Directors have finalized an extensive plan to improve sustainability and quality of life in the areas close to the Princess Project Panama.

Chepo in Panama is an area which is dominated by cattle and dairy farms, but land is degrading, making grazing more and more difficult, and the dry season brings with it unemployment, hunger and drought. The Princess Project Panama promises to change the lives of the local villagers, providing dependable employment, water wells, road improvements and, most importantly, trees. Trees will improve the quality of the land, and will provide an entirely new industry for the people of the Chepo district.

In addition to the employment opportunities created, the Princess Project Panama promises to deliver an array of socioeconomic benefits and sustainability practices. During their recent trip to Panama, the Silva Tree board of directors made final decisions about where funds would be placed to maximize improvements to the project area and its inhabitants.

It currently takes over 20 minutes by road vehicle to travel from the village of Tres Quebradas to the Princess Project Panama and nearby villages. In heavy rain it can take substantially longer, if access is possible at all, due to the poor road conditions. During the long Panamanian wet season there can be flooding as well as landslides and to make matters worse the various bridges that must be crossed are badly damaged, effectively leaving communities stranded and cut off from everything including sources of food and fresh water.

While the wet season brings with it flooding, the dry season brings a serious drought, and the lack of wells in the area means that the local people of Tres Quebradas effectively run out of drinking water- and work. During the dry seasons, there is little employment for the local villagers and they have to find alternative ways of making a living.

The Silva Tree Panama Directors and senior staff held a meeting in Chepo to discuss the effects of the Princess Panama Project on local communities, security issues and company expansion during their recent Xmas visit. Joining Patrick Visser, Maurice Sjerps and Keren Katz for the meeting were an esteemed group of influential public figures from the local area; Herminio Rodriguez, Forestry Engineer and Director of Eco Management, Julio Lasso, Police Commissioner of East Panama, Oscar Chávez, Civil Engineer and Director of Ministry of Public Works, Lieutenant Mariel Vásquez Paredes, Head of the Judicial Investigation Department (Public Ministry) and Olmedo Barrios, Mayor of the District of Chepo.

The local authorities displayed support and enthusiasm for the project and plans were made for works to begin. The road authorities provided a proposal for the upcoming road and bridge improvements, which will facilitate transportation of goods and services in and out of the local area, contributing to a better quality of life for the local community.

The Mayor displayed support on behalf of the local people and district as a whole, due to the impact the project will have on the local ecosystem and quality of life for the region and all of its inhabitants. The mayor also promised to assist with the project development as much as possible.

A final decision was made on the basis of the meeting: The infrastructure priorities will be to improve the road from Tres Quebradas to local villages and rebuild the 13 bridges that the road crosses. In addition, several wells will be dug by Silva Tree, in conjunction with governmental authorities and with permission from the ministry of health.

With “El Niño” (the local word for the drought phenomenon) facing the community in the coming weeks, providing clean drinking water to communities is essential and this is a top priority for Silva Tree. The wells will also serve for the irrigation of the Princess Project plantation.

The next stage of development will consist of improvements to housing, major road upgrades and extending electricity supplies. An education program is being devised, which will help local communities to understand the importance of their rainforests and natural resources and train them in the skills required to work in the timber industry.

Long-term future improvement could include an adult education centre, extensive commercial electricity supplies to all local villages and education grants for children. The decision will be made according to surveys which are still in progress.

Silva Tree Panama S.A. is a Panamanian company dedicated to environmental development, with projects across Central America. The Princess Project Panama is a commercial reforestation project, developed to meet the VCS and CCB standards and following CDM approved methodologies.

For more information about Silva Tree Panama or the Princess Project Panama, please contact Keren Katz, Founding Director in charge of environmental and social impact, on keren@silvatree.com

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