eco.business Fund to receive EUR 13 million in additional funding from EU
eco.business Fund presented at COP21 in Paris
Luxembourg and Paris, 10 December 2015 – eco.business Fund (the Fund) will receive new funding of EUR 13 million from the European Union (EU) in the form of junior shares. The EU will also support the eco.business Development Facility with an additional contribution of EUR 3 million.
This investment was announced on the occasion of the COP 21 in Paris where the EU hosted a panel discussion under the theme “Launch of the eco.business Fund – Turning Green Notes into Green Businesses”. The panel, consisting of delegates from the EU and representatives from KfW, Conservation international and the International Trade Centre, discussed the impact and perspectives of the recently launched Fund.
“Faced with substantial and growing demand for financing biodiversity conservation in Latin America, this additional funding is of great importance to us,” says Jens Mackensen, Chairperson of the Board of the eco.business Fund. “The seed capital provided by the German Federal Ministry for Economic Development and Cooperation is already fully placed with partner lending institutions in the region to refinance sustainable businesses in the areas of agriculture, fishery, forestry and ecotourism.”
About the eco.business Fund
The eco.business Fund is spearheading the preservation and promotion of biodiversity through private enterprises. In providing finance for investing in activities that conserve nature and foster biodiversity, the eco.business Fund seeks investments that yield both financial and environmental returns. The eco.business Fund provides funding mainly through local financial institutions for onlending to eligible final borrowers. Eligible final borrowers include those holding a recognized certification or those making improvements that are in line with conservation and biodiversity goals. The Fund supports sustainable operations in the sectors of agriculture, fishery, forestry and eco-tourism.
The eco.business Fund leverages contributions from donors, multilateral organizations and development finance institutions with funding from private investors to maximize outreach and impact. Seed capital has been provided by the German Federal Ministry for Economic Cooperation and Development (BMZ), with KfW being the main sponsor. Finance in Motion is also an investor.
Operating hand-in-hand with the eco.business Fund, the eco.business Development Facility provides high-impact technical assistance at the sector level to local lending institutions and final borrowers.
For more information please visit www.ecobusiness.fund and follow us on Twitter @ecobusinessfund.