ECO-BUSINESS FUND S.A., SICAV-SIF (FMO-49923)

Regions
  • Latin America and Caribbean
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Nov 17, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
ECO-BUSINESS FUND S.A.
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 10.10 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 25.26 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Jun 26, 2018


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Project Description

FROM THE FMO:

WHO IS OUR CLIENT

Our client is the open-ended debt fund called eco.business Fund.

FUNDING OBJECTIVE

The mission of this Fund is to promote business practices contributing to the sustainable use of natural resources and biodiversity conservation in the LAC region, through the provision of dedicated financing and technical assistance. The main product of the Fund will be senior loans to local financial institutions, which in turn will on-lend to businesses (e.g. coffee farmers, cacao producers, tourism entrepreneurs, foresters, pineapple processing companies) that are certified by sustainability standards (like FSC, Rainforest Alliance, UTZ, Fair Trade) or that seek funding for specific green projects (such as drip irrigation, native crops production). Priority sectors will be agriculture, fishery, forestry and tourism. The Fund will initially focus on highly bio-diverse countries like Colombia, Ecuador, Peru and countries in Central America.

WHY WE FUND THIS PROJECT

The Fund allows FMO to contribute to biodiversity conservation and sustainable use of natural resources, which is essential for a world in 2050 in which 9 billion people live well and within the means of the planet's resources.

Investment Description
  • Netherlands Development Finance Company (FMO)

The FMO is providing USD 10.10 million in financing to the Fund for this project, in addition to two other USD 7.58 financing projects for the Fund.

Contact Information

FMO
The Netherlands
+31 70 314 96 96
info@fmo.nl

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism