MercoPress. South Atlantic News Agency

Further investments in Paraguay announced after Singapore deal

“Paraguay has one of the most advanced laws in terms of carbon credits,” Siokos explained

Astarte Capital Partners representative Stavros Siokos announced that the investors were evaluating further disbursements in Paraguay through the Second Forestry Fund to reach US$ 700 million following the South American country's carbon credit understanding last week with Singapore under Article 6 of the Paris Agreement.

(See also: Paraguay and Singapore sign key carbon credit agreement)

“This agreement is very important. Everything produced in Paraguay can be exported globally. Singapore is one of the most advanced countries in that area, and Paraguay has one of the most advanced laws in terms of carbon credits. So for us it is very important because in this way we can internationalize Paraguay's institutional carbon credits to the rest of the world, and that is the first step for a lot of new changes to come,” Siokos said.

This expansion is expected to generate some 5,000 direct jobs and 50,000 indirect jobs. In addition, the pact facilitates Paraguay's institutional carbon credits entering the global market, marking a significant step in international climate action.

President Santiago Peña emphasized the country’s growing appeal as a destination for sustainable investments. Astarte Capital Partners has already invested US$ 325 million, leading to more than 3,000 direct jobs, and now plans to double its investment. “Astarte Capital Partners has already invested US$ 325 million in our country, generating more than 3,000 direct jobs thanks to our modern Carbon Credit Law. And that is just the beginning: the firm plans to double its investment, betting on the potential of our people and our natural resources. More investments, more jobs, more opportunities for all Paraguayans,” Peña posted on social networks.

Industry and Commerce Minister Javier Giménez highlighted the firm’s commitment to further strengthening Paraguay's economy through this initiative. “Today, thanks to the Carbon Credit Law, they plan to double their investment in the country,” he wrote on X.

Astarte Capital Partners LLP, a London-based real asset investment firm, and Silvipar AB, a Swedish forest development company, established the Silvipar Astarte Forest Impact Fund (SAIFF) with a total value of $325.3 million. Initially targeting $200 million, the fund was significantly oversubscribed, attracting investors from over 25 countries across five continents.

SAIFF aims to develop a portfolio of more than 80,000 hectares, planting approximately 60 million trees in Paraguay. The fund seeks to provide strong financial returns while contributing to carbon removal, estimated at 18 million tons. Over 25% of the land in the portfolio is permanently protected, including Paraguay’s largest private grassland conservation park.

Astarte Capital Partners specializes in sustainable real assets across Europe and North America, focusing on natural capital, energy transition, and infrastructure. Their investment strategy involves strategic partnerships with emerging managers and thematic investment platforms with strong growth potential. The firm has over 300 years of experience in asset management and investment fund formation.