Baugur to support Clinton project in Africa Skip to content

Baugur to support Clinton project in Africa

Icelandic investment company Baugur Group is to contribute ISK 130 million (USD 1 million, EUR 1.5 million) every year to a forestation project in Rwanda led by former US President Bill Clinton and the Scottish entrepreneur Sir Tom Hunter.

Jón Ásgeir Jóhannesson, the former CEO of Baugur and the company’s current Chairman of the Board, said Hunter has established an impressive development project which Baugur is keen to support, Fréttabladid reports.

The forestation project is part of Baugur’s goal to offset its CO2 emissions, and at the same time the company helps prevent desertification in Rwanda and supports farmers in establishing profitable fruit production.

Baugur has cooperated on business projects with Hunter for a few years. Hunter has invested in the Iceland-based Glitnir Bank and FL Group.

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