According the GCF, this fund to finance investment projects will improve the bioeconomy in the Amazon, that is, the valuation of natural capital, allowing “bio-companies” to invest in reducing GHG emissions in the Amazon. The objective is to generate positive economic, climatic and social impacts by taking advantage of the variety of biological and genetic resources of the Amazon, the diverse productive landscapes and sustainable forestry.
The Fund will create 2 complementary components:
1. investment funds in bioeconomy and
2. access to private capital markets through green bond issues.
These components will be implemented through:
• concessional financing,
• performance-based incentives, and
• Technical assistance to increase the institutional capacity of ministries, National Development Banks, local concessionaires, development of standardized eligibility frameworks and assessment and structuring of bioeconomy funds.
The subprojects will be subject to preliminary evaluations and environmental and social management in line with IDB policies.
Indigenous peoples are involved and the program includes an explanation of how their voices will be incorporated and a reference to the stakeholder engagement plan.
In addittion to USD 135 million lended as loan and USD 137.5 million as grant, the GFC funded USD 6.5 million as equity.
As co-financing, the GFC declares that the project receives other USD 155 million as loan, USD 145 million as guarantee, USD 4 million as equity, USD 14 million as grant and USD 1.1 in-kind.
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