eco business Fund makes first investment of USD 20 million in Benin to advance sustainable agriculture

The financing will be channeled to support sustainable agriculture and agri-processing to promote climate resilience and value addition in West Africa. 

Luxembourg and Cotonou, August 5, 2025 – The eco.business Fund has provided USD 20 million in financing to Banque Internationale pour l’Industrie et le Commerce (BIIC), the largest commercial bank in Benin, to promote sustainable agriculture and agro-processing practices. This marks the fund’s first investment in Benin, underscoring its commitment to fostering inclusive, climate-resilient economic development in West Africa.

The financing will enable BIIC to expand its support for agribusinesses and value chain actors involved in export-oriented processing who are adopting sustainable practices. These include producers and processors of key commodities such as rice, oilseeds, pineapple, and oranges, many of whom are aligned with sustainability standards like Rainforest Alliance and Fairtrade, or implement practices in line with the fund’s Green List criteria such as reduced tillage and responsible sourcing.

BIIC’s strong presence in agricultural lending, with a dedicated agri-desk and rural branch network, positions it as a key partner in delivering meaningful development impact. The bank’s robust pipeline of eligible projects includes investments in agri-processors, cooperatives, and exporters. The investment from the eco.business Fund will enable BIIC to provide long-term financing, which is critical for capital expenditure and climate adaptation in agriculture.

The investment will be complemented by technical support to BIIC in enhancing its Environmental and Social Management Systems (ESMS), and training programs for staff and end borrowers on sustainable production practices. This combination of financing and capacity building is expected to enhance BIIC’s ability to align with international sustainability standards and deepen its impact.

This partnership highlights eco.business Fund’s strategy of supporting financial institutions that promote responsible production, biodiversity conservation, and sustainable use of natural resources. The investment aligns with several Sustainable Development Goals, including SDG 2 (Zero Hunger), SDG 15 (Life on Land), and SDG 17 (Partnerships for the Goals).  
 

About BIIC

Born from the merger of BAIC and BIBE in 2020, the Banque Internationale pour l’Industrie et le Commerce (BIIC) represents the successful synergy of two major institutions in the Beninese banking landscape. With a share capital of XOF 82.514 billion (€125.79 million) as of December 31,2024, BIIC has established itself as a key player and a genuine driver of growth for the national economy.

Driven by an ambitious mission : provide innovative and accessible financial services for all ,BIIC places customer satisfaction at the core of its priorities. Attentive to economic trends, the bank proactively anticipates emerging market dynamics and designs tailored solutions that meet the needs of productive economic actors, while maintaining a firm commitment to supporting entrepreneurship. This adaptability has enabled BIIC to become, since 2022, the leading bank in Benin based on key financial indicators.

BIIC’s commercial strategy is structured around its relationship with large corporates and institutions, the development of its Elite clientele, the banking of individuals, SMEs and SMIs, and the acceleration of its digital offerings. Each of these strategic pillars reflects the bank’s deep commitment to meeting client expectations through our core values: Agility, Passion, and Integrity (API).

Since April 2025, BIIC has been officially listed on the Regional Stock Exchange (BRVM), marking a major milestone in its growth journey. This achievement reaffirms not only our commitment to transparency and accountability, but also our deep sense of duty to our clients, partners, employees, and shareholders with the shared ambition of making our brand a true label of quality in the Pan-African banking landscape.

For more information, please visit us at: www.biic-bank.com 
Follow us on X @biic_bank and on LinkedIn
 

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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