The Bank's International Finance Corp. and Multilateral Investment Guarantee Agency said the $1.7 billion project for two pulp mills complied with their environmental and social standards. (...
10% of Uruguay’s land area is forested. Over 15% of these are primary forests and nearly 60% are plantations. The area of plantations has increased from about 200,000 hectares in 1990 to more than 1,000,000 hectares in 2015. Reflecting this, the forest area has been increasing by 3.4% per year between 1990 and 2015 (FAO, 2015).