Eco.business Fund Lends Its Support to Colombia’s First Sustainable Banking Congress
The fund is sponsoring the event as well as the opening panel discussion on how health and welfare can affect economic growth
Bogota, 23 March 2017 – The eco.business Fund has joined the Colombian banking association Asobancaria to support this year’s inaugural Congreso de Sosteniblidad (23-24 March), which will gather top Colombian and international banking and finance experts for talks and presentations on the past, present, and future of sustainable finance in the country.
Asobancaria’s decision to hold the country’s first-ever meeting for leading members of the Colombian finance and banking industries serves as an indication of the increasing importance sustainability is playing in the region.
The eco.business Fund is underwriting the first discussion group, which will focus on the role health and welfare play in economic growth.
Panelist Miguel Achury, Bancamia's Vice President of Institutional Planning and Development, explains to leaders from Colombia's financial sector the opportunities and challenges that climate change represents for the financial sector. Mr. Achury is of the opinion that “financial offers that are greener and more environmentally sustainable have proven to have positive effects for financial entities and for their clients, as demonstrated by Bancamia's MeBA project on microfinance for ecosystems-based adaptation to climate change.”
Eco.business Fund Chairman Dr. Jens Mackensen said, “It is an honor to help support Colombia’s first major banking congress to focus on sustainability. It is our hope that sustainability will become a key factor in decision-making among the country’s financial and banking leadership.”
Isabel Mantilla, Director of Sustainability from Asobancaria says, “At this first edition of the Congreso de Sosteniblidad, national and international experts from the public and private sectors exchange information, analyzes, and discuss innovative and successful strategies that are aimed at promoting sustainability. All of these analyses will be aligned with the United Nations' Sustainable Development Goals”
About the eco.business Fund
The eco.business Fund is spearheading the promotion of business practices that contribute to the preservation of biodiversity, the sustainable use of natural resources, and climate change mitigation and adaptation through private enterprises. By providing financing for business practices that conserve nature and foster biodiversity, the fund seeks investments with both financial and environmental returns. The fund mainly provides loans to qualified local financial institutions that lend the money to eligible borrowers, which include holders of recognized certifications or those making improvements 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 was provided by the German Federal Ministry for Economic Cooperation and Development, with German Development Bank KfW acting as main sponsor. Finance in Motion, a leading impact investing company, 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.
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Media contact eco.business Fund
Tel: +49 (0) 69 271 035-307