Fund invests in Paraguay for the first time Fund invests in Paraguay for the first time

Luxembourg and Asunción, 16 November, 2023 - Fund has announced that it is lending USD 10 million to Financiera Finexpar, a Paraguayan non-bank financial institution, marking its first investment in the country.  

Headquartered in Asunción, Finexpar has a branch network with a footprint in eight of the country's 17 states. Although currently a non-bank financial institution, it is converting into a fully-fledged bank, a process that is expected to be completed by next year. 

Finexpar has a broad reach in rural areas and is largely focused on lending to small and medium-sized agricultural businesses. Rural areas in Paraguay continue to have limited access to formal financial services because of the scarcity of affordable credit. 

"We are thrilled to be partnering with Finexpar," said Michael Evers, chairperson of Fund. "Their strong presence in rural areas underlines their potential to drive positive change among the previously unbanked." 

The collaboration between Fund and Finexpar aligns well with the Fund's objectives of biodiversity preservation and the sustainable use of natural resources. "Finexpar's deep-rooted experience in financing agribusiness in rural areas makes it an ideal ally for the Fund,” commented Evers.  

“The transaction represents a cornerstone of Fund Latin America Caribbean (LAC)’s investment strategy to foster sustainable practices in Paraguay, while supporting a regulated non-bank financial institution with a proven track record of lending to small-scale farmers,” added Hector Gomez Ang, Regional Head – Latin America and the Caribbean at Finance in Motion, Fund’s advisor.  

Finexpar has indicated that it would like to receive technical assistance on sustainable cattle farming through Fund's Development Facility. This would include offering farm improvement blueprints tailored for end-borrowers and providing training for key staff members on environmental and social risks. 

Confident the loan would have a strong sustainable development impact, Evers said: "Through this investment in Paraguay, we hope to improve access to funding for agribusinesses, address their liquidity needs, and preserve jobs, while helping them overcome environmental challenges." 

Hugo Martinez, Director of Financiera Finexpar: “After a rigorous due diligence process, Finexpar is honored to have been selected for a first investment by Eco Business Fund in Paraguay. We are confident that this strategic alliance strengthens the local financial market.”  

EBF´s funds will be allocated to the growth of Finexpar’s SME portfolio with the strategic objective to finance SMEs with high social impact potential. Our agricultural and productive portfolio is a key driver of our growth for which we have established specific goals for investing in green loans throughout the coming years.  

With this transaction we reaffirm our commitment and openness to the international market. Thanks to the funds we will be able to provide more and better financing options to our customers.” 

About the Fund 

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. By providing financing for business practices that conserve nature and foster biodiversity, the fund seeks investments with both environmental and financial returns. The 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 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 and follow us on Twitter @ecobusinessfund 

About Financiera Finexpar 

Financiera Finexpar S.A.E.C.A (“Finexpar”) is the largest Non-Bank Financial Institution (NBFI) in Paraguay with a total loan portfolio of USD 350mln, Total Capitalization of USD 55 million. The NBFI’s core business is providing credit to SME clients across sectors, the most relevant being agriculture (18.6%), wholesale trade (13.6%), and cattle (10.1%). Finexpar is a Paraguayan regulated entity since 1989 and is preparing to transition from an NBFI to a licensed bank.  

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: 

You can also follow us on Twitter @financeinmotion and on LinkedIn 

Media contact Fund 

Anne Johnson 


Phone:  +49 69 271 035 742 

Media contact FINEXPAR S.A.E.C.A 

Julieta Gallagher 


Phone: +595 985 440170 


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