eco.business Fund invests USD 15 million in Banco Bolivariano to promote sustainability in Ecuador
Article originally published on eco.business Fund's website on 10/12/2024. LACIF contributes to eco.business Fund through technical assistance and financial instruments.
eco.business Fund provided a loan of USD 15 million to Banco Bolivariano, to support the adoption of sustainable business practices in Ecuador. The investment will be channeled to finance Banco Bolivariano's expansion of its sustainable agriculture and aquaculture portfolios, particularly in certified sustainable shrimp production, one of Ecuador's most vital export sectors.
This funding aligns with the eco.business Fund's commitment to promote the sustainable use of natural resources in Ecuador and Latin America, focusing on a sector that is key for the local economy, while promoting good environmental practices.
Banco Bolivariano’s is an excellent partner for the fund due its strong commitment to the environment and its proven capacity to deliver investments in sustainability. In other to further strengthen such capacity, as part of the preparations for this investment, eco.business sponsored trainings in biodiversity and green finance for staff members of the bank, as well as their participation in UNEP-FI’s regional roundtable in 2024.
This partnership further strengthens eco.business Fund’s role in Ecuador, and in two economic sectors that are key both for employment generation and the sustainable use of natural resources.
About Banco Bolivariano
In 1980, Banco Bolivariano was born with solid foundations, currently maintaining the best levels of asset quality, profitability and liquidity within the Ecuadorian financial system. Innovation is part of its evolution, offering products and services to its users to simplify processes and make them more practical, comfortable and agile. Efficiency and trust are what characterize the entity, which is derived from the proper management of the institution for more than 40 years of life and the commitment of its team to project future relationships towards its internal and external audiences.
For more information, visit http://www.bolivariano.com or follow 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
You can also follow us on X @financeinmotion and on LinkedIn
Media Contact Finance in Motion GmbH
Nusha Westhoff,
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Carl-von-Noorden-Platz 5
60596 Frankfurt am Main
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E-Mail: info@finance-in-motion.com
www.finance-in-motion.com
Media contact Banco Bolivariano
Kyra Arcia
Brand Experience Manager
Phone: + 593 4 230 5000
Email: info@bolivariano.com
