eco.business Fund invests USD 10 million in Banesco Banco Múltiple to finance sustainable business practices in the Dominican Republic
Luxembourg and Santo Domingo, 2nd April 2025 – The eco.business Fund has provided USD 10 million in financing to Banesco Banco Múltiple S.A., a Dominican bank, to advance sustainable practices in agriculture and tourism. This marks the fund's second transaction in the Dominican Republic, underscoring its commitment to promoting sustainability in critical economic sectors in a key region such as the Caribbean.
The investment will enable Banesco to finance projects that implement sustainable practices and achieve sustainability certifications such as Rainforest Alliance and Fairtrade. Additionally, resources will target tourism projects incorporating resource efficiency measures. The investment will be complemented with capacity building support to enhance Banesco’s Environmental and Social Management System (ESMS), as well as to align the Bank’s sustainability strategies with international standards.
By addressing challenges such as CO2 emissions reduction and sustainable resource use, the partnership highlights eco.business Fund’s mission to deliver both environmental and economic benefits. The collaboration leverages on Banesco’s strong market presence and expertise, paving the way for greater financial and environmental impact in the Dominican Republic.
The investment is part of a financing package of a total of USD 45 million structured as an A/B loan with IDB Invest, which contributes USD 25million as the A lender, and a parallel loan of USD 10 million from the OPEC Fund for International Development (the “OPEC Fund”).
This partnership represents a significant step for the eco.business Fund in expanding its footprint in the Caribbean market, fostering sustainable development, and supporting businesses that prioritize environmental conservation and social responsibility.
About Banesco Banco Múltiple
Banesco Banco Múltiple S. A., established in 2011 in the Dominican Republic, is a financial institution that offers a range of banking services, with a focus to provide innovative financial solutions, customer experience and technological advancement. The bank emphasizes social responsibility and community involvement, aligning with Banesco Internacional, a financial services brand with an international presence and more than 35 years of experience in banking, insurance and payment methods. With operations in the United States, Europe and Latin America. For further information and details, visit https://www.banesco.com.do/
About IDB Invest
IDB Invest is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $21 billion in assets under management and over 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries. Visit our website www.idbinvest.org/en
About the eco.business Fund
The eco.business Fund aims to promote business and consumption practices that contribute to biodiversity conservation, to the sustainable use of natural resources, and to mitigate climate change and adapt to its impacts in Latin America, the Caribbean, and sub-Saharan Africa. By providing financing for business practices that conserve nature and foster biodiversity, the fund seeks investments with both environmental and financial returns. The eco.business Fund provides financing through three avenues: local financial institutions that are committed to the fund’s mission and which have the capacity to reach its target group; directly to its target group (i.e. companies and producers); and in the case of sub-Saharan Africa, to real sector intermediaries. The fund supports sustainable operations in the sectors of agriculture, fishery (including aquaculture), forestry and tourism. Target beneficiaries are those that hold an eligible sustainability certification or those taking out a loan to make eligible sustainable investments in their operations.
Operating together with each of the two sub-funds, are two development facilities that provide high-impact technical assistance to investment partners and final borrowers.
An impact investment fund advised by Finance in Motion, the eco.business Fund was initiated by Germany’s KfW Development Bank and Conservation International with financial support from the German Federal Ministry for Economic Cooperation and Development (BMZ).
The sub-fund for sub-Saharan Africa was formally launched in 2020 with initial funding from BMZ.
The sub-fund for Latin America and the Caribbean has received funding from the European Commission as well as from numerous other prestigious development finance institutions and institutional investors.
For more information please visit www.ecobusiness.fund
About Finance in Motion
Finance in Motion is a global impact asset manager focused exclusively on sustainable development in emerging markets and developing economies. The company structures, manages, and advises impact investment funds that bring together public and private investors to address climate change, strengthen biodiversity conservation, foster the sustainable use of natural resources, improve livelihoods, and promote economic opportunities.
For more information, please visit us at: www.finance-in-motion.com
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Media contact Banesco Banco Múltiple
Email: comunicaciones@banesco.com.do