Newly-independent South Sudan is heavily reliant on oil as an income earner, which is why harvesting extensive teak forests, originally planted by the British in the 1940s, is seen as important in generating foreign exchange. Large land concessions have already been granted to foreign companies to harvest the teak. Of these, two of the largest are a 50,000 hectare natural forest concession to Central Equatoria Teak Company (CETC) and 18,640 hectares (1,319 hectares of which are under teak) to Equatoria Teak Company (ETC). There have been years of local opposition to the deals, signed in 2007, because of a lack of consultation. Although there has not been displacement, there are reports that suggest the government wants people to be moved from forestry areas. The CETC agreement stipulates the payment of $200,000 into a social fund plus $155 per m^3 of teak exported. The ETC agreement also involves a $200,000 social fund amount (ETCs website, however, says under the terms of its concession agreement they have contributed $70,000) plus $110 per m^3 of teak exported. Government officials have expressed dissatisfaction with these amounts compared to the price that Sudanese teak, considered to be of the highest quality in Africa, earns on international markets. The concessions have an interesting history involving the development department of the British and Finnish governments. As reported by the Oakland Institute, the Commonwealth Development Corporation (CDC), whose sole shareholder is the UK Department for International Development, and the Finnish Fund for Development Cooperation (Finnfund) held majority interests in Equatoria Teak Company and Central Equatoria Teak Company. They later sold their interests to unnamed investors, but as the Oakland Institute points out, the implication is that the Government of South Sudan entered into the investment because they believed CDC and Finnfund were responsible investors. Having divested, there is no guarantee that new investors are as committed to sustainable development. However, Oakland acknowledges some benefits, citing job creation (a Forest Stewardship Council report indicated ETC was employing 246 people, 98 percent of whom were from the local population) and that the wood is processed onsite. But there have also been complaints that expectations of large amounts of jobs have not been fulfilled and that existing jobs are poorly paid.