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15.11.2017
The investment will support business practices that contribute to biodiversity conservation and the sustainable use of natural resources in Latin America.
The eco.business Fund has received a USD 25 million investment from Oesterreichische Entwicklungsbank AG (OeEB), the Development Bank of Austria, that will support businesses in Latin America that implement practices in their operations which promote biodiversity conservation.
The eco.business Fund promotes sustainable business practices and responsible resource use in the areas of agriculture, fishing, forestry and eco-tourism, contributing to biodiversity conservation, sustainable use of natural resources and climate change mitigation and adaptation. Investing into the fund offers the OeEB an opportunity to help finance these efforts. The fund's support of natural resource conservation in Central America, one of the OeEB's geographical focus areas, was also a driving factor behind the investment.
The OeEB is mandated to stimulate sustainable economic growth, making the investment in the fund a natural fit in supporting the transition towards a green economy. The fund's innovative public-private partnership structure, in which private investors leverage funding from donors and development finance institutions, is especially attractive to the OeEB, maximizing its development impact.
Chairman of the eco.business Fund board, Dr. Jens Mackensen said: "This investment from the OeEB further supports the fund's work to address biodiversity conservation challenges, promote sustainable natural resources use, and fight climate change and adapt to its consequences. We are very pleased that the OeEB is supporting our work in Latin America."
"Sustainable Development is key for reducing poverty and better living conditions. The eco.business Fund supports SMEs and is focused on biodiversity, both important goals for OeEB. Together we are able to contribute to the achievement of the Sustainable Development Goals (SDGs), especially of SDG 15, which promotes the protection of biodiversity and ecosystems," said Andrea Hagmann and Michael Wancata, members of the executive board of OeEB.