Eco.business Fund with strong presence at the World Coffee Science Summit in El Salvador21-06-17
In order to contribute to research on conservation and sustainability of coffee crops around the world, the eco.business Fund participated in the event, first of its kind in the world, as a lecturer and sponsor.
San Salvador. As part of the World Coffee Science Summit, the eco.business Fund organized a panel named "Financing sustainability in the coffee sector in Latin America" in which Ricardo Pineda, an agribusiness specialist at the eco.business Fund, explained that, "for the eco.business Fund, it is key to support shade grown coffee conservation in El Salvador, not only due to soil conservation and biodiversity, but also due to the role shade forests play in recharging water and feeding the main aquifers that serve drinking water to the majority of its population."
The eco.business Fund via local financial institutions provides much needed funding to promote shade-grown coffee which is of high environmental and economic interest to El Salvador.
The Summit aimed at finding solutions to the problems that coffee producers are currently facing around the world, and the effects of climate change and global warming were one of the most analyzed aspects. Several experts spoke about this topic: Fábio M. DaMatta, a coffee expert from Brazil, commented that by 2080, several prominent coffee growing regions will not be suitable for the cultivation of the grain any more. Other experts highlighted that climate change has already affected production, affirming that every five to seven years, Brazil loses a whole harvest due to drought.
The event was held in San Salvador, from May 31 to June 2, 2017, and organized by a consortium of Salvadoran coffee associations, with the support of the Inter-American Institute for Agriculture Cooperation (IICA) and the World Coffee Research (WCR) and sponsored by the eco.business Fund. More than 600 people from 18 countries attended.
About the eco.business Fund DF
The Development Facility of the eco.business Fund (eco.business DF) was created in 2014 to support the fund’s conservation finance mandate. It deploys effective, targeted and innovative technical assistance to maximise the impact and extent of the Fund’s conservation finance mandate in target countries. The services of the facility encompass capacity building and training, financial sector support and applied research with the aim to strengthen the internal capacities and operations of the fund’s partner institutions.
The facility operates independently from the fund in a fiduciary arrangement under Luxembourg law. The Development Facility Committee, comprising members nominated by the KfW Development Bank, is responsible for assessing and approving all project proposals and providing strategic guidance to the facility.
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.
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