The eco.business Development Facility co-sponsored the fifth edition of the Sustainability and Financial Inclusion Congress, CLEIF 2019, in Quito, which took place from 02-03 December and was organized by Asobanca and Felaban, non-profit trade organizations representing the interests of banks in Ecuador and Argentina respectively. More than 250 participants from financial institutions, government institutions, multilateral organizations, and academia attended. CLEIF combines sustainability with responsible finance – core elements at the heart of the eco.business Fund’s operations.
The themes of the congress included sustainable and inclusive banking, new opportunities for the financial sector in the face of new global challenges, and digitization and global technological trends. Lucía Gaitán from the eco.business Fund’s advisor Finance in Motion, participated in a panel discussion on, “Technology and digitalization, paving the way towards inclusion and financial sustainability.” Ms. Gaitán shared her experience in promoting new technologies, such as drones used for forest protection efforts, that support sustainable financing in the agricultural sector.
Karim ould Chih, Chairman of the eco.business Development Facility said: “We are proud to be co-sponsoring an event that is very well recognized in the region and promotes the importance of sustainability and responsible finance. Being part of an event of this caliber highlights the commitment of the eco.business Fund to contribute to the Sustainable Development Goals, as sustainable banking is essential to achieving these global goals.”
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. By providing financing for business practices that conserve nature and foster biodiversity, the fund seeks investments with both environmental and financial returns. The fund mainly provides loans to qualified financial institutions that on-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 (including aquaculture), forestry and tourism.
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). It has received further donor support from the European Commission The fund’s additional investor base comprises IDB Invest, a member of the Inter-American Development Bank (IDB) Group, the U.K. government’s Department for Environment, Food and Rural Affairs, Dutch development bank FMO, Austrian development bank OeEB, and institutional investors such as sustainable banking institution ASN Bank, German ethical bank GLS Bank, Calvert Impact Capital, and Raiffeisen Bank International. 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 to financial institutions and final borrowers.
For more information please visit www.ecobusiness.fund and follow us on Twitter @ecobusinessfund.