Technical and political challenges, particularly linked to ensuring wide stakeholder acceptance and equitable market access by small and medium-sized enterprises (SMEs), continue to delay the issuance of the first licences. Indonesia is expected to deliver the first FLEGT-licensed timber to the EU in early 2016, followed by Ghana later in the same year. A five-year ITTO project was launched in March 2014 with EU financial support to establish the FLEGT Independent Market Monitoring (IMM) mechanism with the aim of regularly assessing the market influence of the FLEGT process.