eco.business Fund supports sustainable agricultural businesses in Colombia29-06-18
A USD 25 million loan to GNB Sudameris Bank is one of the fund’s first investments in the country
Luxembourg and Bogotá, June 29, 2018 – Agricultural businesses in Colombia concerned with environmental sustainability stand to benefit from the recent disbursement of a USD 25 million loan from the eco.business Fund to GNB Sudameris bank.
The investment will promote environmental conservation by supporting local companies that comply with international environmental sustainability standards, proven through certifications with internationally-recognised bodies, such as Rainforest Alliance, Fairtrade and Florverde Sustainable Flowers. In this way, the fund, which currently works with ten financial institutions in six Latin American countries, is strengthening its ties to Colombia, recognising the potential of the country’s agricultural activities due to its diverse climates and geography.
The support from the eco.business Fund arrives at an ideal time to stimulate the country’s agro-industrial sector and ensure both a cleaner and more productive future.
“Colombia is one of the most biodiverse countries in the world and we are proud to partner with GNB Sudameris in our common goal to protect its natural resources,” said Dr. Jens Mackensen, Chair of the Board of Directors of the eco.business Fund.
About the eco.business Fund
The eco.business Fund is spearheading the promotion of business practices that contribute to the preservation of biodiversity, the sustainable use of natural resources, and climate change mitigation and adaptation through private enterprises. By providing financing for business practices that conserve nature and foster biodiversity, the fund seeks investments with both financial and environmental returns. The fund mainly provides loans to qualified local financial institutions that 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, forestry and eco-tourism.
The eco.business Fund leverages contributions from donors, multilateral organizations, and development finance institutions with funding from private investors to maximize outreach and impact. Seed capital was provided by the German Federal Ministry for Economic Cooperation and Development, with German Development Bank KfW acting as main sponsor. 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 at the sector level to local lending institutions and final borrowers.
For more information please visit www.ecobusiness.fund and follow us on Twitter @ecobusinessfund
About GNB Sudameris bank
GNB Sudameris bank has been operating in the Colombian financial sector for almost 100 years. The bank has more than 295,000 clients in the Colombian consumer segment, 7,000 commercial clients and around 500 million dollars in equity. GND Sudameris has 119 branches throughout Colombia´s main cities and has a network of more than 2,000 ATMs in 450 municipalities via its Servibanca brand. In 2013, GNB Sudameris completed the acquisition of HSBC´s operations in Colombia, Paraguay and Perú.
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