Contact for


Lloyd Stevens
Lloyd Stevens Fund
Latin America & the Caribbean
and sub-Saharan Africa
Finance in Motion GmbH


The 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.

The Fund pursues its mission by providing dedicated financing and technical assistance to financial institutions and businesses committed to environmental practices in unique ecological landscapes both in Latin America and sub-Saharan Africa. The fund focuses on sustainability in four economic sectors: agriculture and agri-processing, fishery and aquaculture, forestry, and sustainable tourism.


How the Fund Works

The Fund leverages the power of blended finance to amplify its impact and outreach via two separate sub-funds in i) Latin America, and the Caribbean, and ii) sub-Saharan Africa. In other words, the fund draws its capital from various layers: An initial base of public investors and donors provides a risk cushion to unleash the financial clout of private institutional investors.

The fund then invests this money either via intermediaries committed to promoting green finance or directly in businesses that pursue sustainable production and consumption.

In the case of intermediaries, these can be local financial institutions with which the fund works to deliver funding to businesses or producers or - in the case of sub-Saharan Africa – real-sector intermediaries, such as commodity buyers that are looking to enhance the sustainability of their supply chains by delivering finance to partner producers and businesses seeking financing for green investments.

In addition, fund beneficiaries – whether intermediaries or directly funded businesses – can access technical assistance provided by the respective Development Facility.

Geographical Focus

Geographical Focus

The Fund targets highly biodiverse regions of the world whose ecosystems are particularly vulnerable to the effects of agriculture, fishing, forestry, and tourism.

Who the Fund Finances

The Fund provides financing through three avenues:

  • It invests in local financial institutions that are committed to the fund’s mission and which have the capacity to reach its target group. Acting through these local financial intermediaries has systemic benefits, such as creating larger scale and efficiency through the use of local finance infrastructure. It also helps make biodiversity finance a mainstream product by facilitating access to green finance for end borrowers through local financial institutions.
  • The Fund also lends resources directly to its target group – that is, businesses that implement sustainable practices and are aligned with the fund’s mission. These investments can have a demonstrative effect on the entire sector so that financed measures are more likely to be implemented in the future by other players in the sector.
  • In the case of sub-Saharan Africa, the sub-fund also provides financing to real-sector intermediaries, such as commodity buyers or aggregators that have made credible sustainable sourcing commitments.

In all cases, the fund provides debt financing.

Investees receiving Fund financing must:

  • either hold an eligible sustainability standard or
  • implement either one of the practices outlined in the “Green List” or
  • support a practice fully aligned with the fund’s mission.

For more on the sustainability standards and Green List activities qualifying investees for funding, please visit The Pathway to Impact.

Corporate Governance

The fund is a SICAV-SIF under Luxembourg law, a proven vehicle for development finance funds such as the EFSE, GGF, and SANAD.

The Board of Directors appointed by the shareholders is the main decision-making body. Approval of investment proposals submitted by the Advisor is delegated to the respective sub-fund Investment Committee, whose members are appointed by the Board.

Finance in Motion

In its role as Advisor to the Fund, Finance in Motion provides investment management services to the Fund’s Board of Directors and Investment Committees. The task of these bodies is to direct the fund’s investment decisions, objectives and policies. Finance in Motion furthermore supplies risk management, technical assistance, impact management, transaction management, reporting, and other fund services to the Fund.

Finance in Motion is an impact asset manager exclusively focused on development finance. With over EUR 2 billion in assets under management, the company develops and advises investment vehicles that promote the Sustainable Development Goals.


Board Members

Michael Evers
Michael Evers

Chairperson of the Board

Michael Evers joined the Fund in March 2022. He currently serves as the Division Head and Regional Manager for Eastern Europe, the Caucasus, and Central Asia at KfW Development Bank. Throughout his 30-year career he has focused on development and finance at both private sector organizations and NGOs. Michael has experience in various sectors such as natural resources, renewable energy, climate change and urban development in Eastern Europe, Asia, Africa, and Latin America. He holds an M.Sc. in Forest Science from the University of Göttingen.

Chimwemwe de Gaay Fortman
Chimwemwe de Gaay Fortman

Chimwemwe de Gaay Fortman is an independent advisor in the agrifood sector and impact finance. She is a member of the management at East Netherlands Development Agency (OostNL) where she is responsible for the Capital Unit. Chimwemwe has over 20 years’ experience in corporate and investment banking, impact financing and change management. She has held positions at ABN AMRO Bank, the Dutch Development Bank FMO in Latin America and Rabobank. Chimwemwe currently holds several Committee and Board positions, including the Credit Committee of the &Greenfund, and the Investment Committee of the Good Fashion Fund. She also sits on the Supervisory Boards of Dutch Cooperative Horticoop, and BidNetwork. Chimwemwe holds a master’s degree in Financial Economics from the VU University in Amsterdam. 

Chris Knowles
Chris Knowles

Christopher Knowles is an independent advisor on climate and environmental finance. He was a long-term member of EIB until 2018, where he led the climate and environmental finance team, contributing scale and innovation to the bank’s climate change agenda. Chris has served on the supervisory boards and advisory committees of numerous clean energy, environmental, infrastructure, and carbon funds, including as Chairman of the Board of Directors of the Green for Growth Fund until 2018. He is currently a Member of the Board of the Fund. Chris holds an M.Sc in Management Science from the University of Durham.


Launch of the Fund by KfW, the German Development Bank, Conservation International, and Finance in Motion

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Initial first-loss capital

First investments in partner institutions

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First private investor

DEFRA provides additional first-loss capital

KfW invests


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FMO invests

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ASN Bank and Calvert Impact Capital join private investor group

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OeEB invests

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Investment portfolio surpasses USD 100 million

EU provides additional first-loss capital Fund wins ALIDE award

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Raiffeisenbank International broadens the private investor group further

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Investment portfolio surpasses USD 200 million

IDB Invest invests

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First Fund conference, “Our Journey”

Read more Fund expands to sub-Saharan Africa

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Calvert Impact Capital expands relationship with Fund to increase financing for biodiversity conservation

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Available funding surpasses USD 500 million.

First direct investment in sustainable business in Latin America

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BMZ invests in Fund for biodiversity conservation in Latin America and sub-Saharan Africa

Read more Fund expands to Mexican market

Read more Fund becomes a signatory of the Finance for Biodiversity Pledge

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