eco.business Fund and Calvert Impact extend partnership to boost sustainable agribusiness practices in sub-Saharan Africa
Luxembourg and Maryland (USA), 25 March 2024 -The eco.business Fund, an impact investment fund advised by Finance in Motion, has secured an investment worth USD 10 million from Calvert Impact, a global nonprofit firm investing in solutions for people and the planet. The investment in Senior Notes of is meant to promote sustainable business practices among agribusiness value chains in sub-Saharan Africa. This investment by Calvert Impact is an extension of their existing cooperation as an investor and loan participant to the eco.business Fund’s sub-fund for Latin America and the Caribbean.
The investment will assist the eco.business Fund in bolstering its efforts to finance actors within sustainable agribusiness value chains and in promoting the financing of practices that facilitate biodiversity conservation and adaptation to climate change. Sustainable agribusiness practices play a vital role in conserving biodiversity, particularly in regions housing numerous biodiversity hotspots like sub-Saharan Africa. Moreover, given the predominantly agrarian economies in the region, the adoption of sustainable practices not only yields environmental benefits but also provides economic advantages by facilitating access to international markets for certified sustainable agricultural producers and other value chain participants.
“We are excited to expand our relationship with Finance in Motion and the eco.business Fund with this investment to further biodiversity conservation and environmentally sustainable agricultural practices in the region,” said Catherine Godschalk, Vice President of Investments at Calvert Impact. “And importantly, our work together continues to demonstrate how public-private partnerships and blended finance structures can deliver environmental impact across the globe.”
Michael Evers, Chairperson of the Board of Directors of the eco.business Fund, expressed his views on this collaboration saying “One cannot emphasize enough the significance of continued support from longstanding partners such as Calvert Impact. Their continued trust unleashes the transformative potential of public-private partnerships, empowering the Fund to expand its impact into new regions and establish a strong groundwork for greater private-sector participation in funding the preservation of biodiversity and sustainable use of natural resources.”
Hector Gomez Ang, Director for the eco.business Fund at Finance in Motion, the Fund’s advisor, highlighted the importance of the partnership, saying "We’re grateful for the ongoing trust of Calvert Impact and their appreciation of the positive systemic impact of private-sector engagement in promoting sustainable business approaches. This investment represents a validation of our established track record and dedication to effecting meaningful, positive transformations. More than just enhancing our ability to create positive impact, it highlights our capacity to attract and responsibly manage investments from private investors."
By supporting sustainable business practices, the eco.business Fund continues to make substantial contributions to achieving the Sustainable Development Goals (SDGs): SDG 2 (Zero Hunger), SDG 6 (Clean Water & Sanitation), SDG 8 (Decent Work and Economic Growth), SDG 12 ( Responsible Consumption & Production), SDG 13 (Climate Action), SDG 14 (Life Below Water), SDG 15 (Life on Land), and SDG 17 (Partnerships for the goals).
About Calvert Impact
Calvert Impact is a global nonprofit investment firm that helps investors and financial professionals invest in solutions that people and the planet need. During its 29-year history, Calvert Impact has mobilized approximately $5 billion to build and grow local community and green finance organizations through its flagship Community Investment Note® and other products and services. Calvert Impact recently launched the Cut Carbon Note®a product that aims to reduce carbon emissions and transform the way we build. Calvert Impact uses its unique position to bring the capital markets and communities closer together.
More at calvertimpact.org.
About the eco.business Fund
The eco.business Fund, advised by Finance in Motion, was initiated by the German KfW Development Bank and Conservation International with the support of the German Federal Ministry for Economic Cooperation and Development (BMZ). The sub-fund for sub-Saharan Africa was officially launched in 2020 with start-up financing from the BM Z. The sub-fund for Latin America and the Caribbean was financed by the European Commission as well as numerous other development finance institutions and institutional investors.
More at: www.ecobusiness.fund
About Finance in Motion
Finance in Motion is a global impact asset manager focussing exclusively on sustainable development in emerging and developing countries. The company structures, manages and advises impact investment funds that bring together public and private investors to combat climate change, strengthen biodiversity conservation, promote the sustainable use of natural resources, improve livelihoods and promote economic opportunities.
More at: www.finance-in-motion.com
Media contact eco.business Fund
Mehreen Rafi
Marketing & Communications
Email: press@ecobusiness.fund
Tel: +49 69 271 035-509
Media contact Calvert Impact
Leigh Moran
Director, Strategy
Email: lmoran@calvertimpact.org