Fund managed by Finance-In-Motion secures $10m from FMO
Posted on: 28 July, 2020 at 6:28 PM
Dutch development financier FMO has signed a $10 million investment in Eco.business II Sub-Fund (EBF II), an open ended debt fund that aims to promote ecologically sustainable businesses, with a special focus on fighting deforestation in sub-Saharan Africa, through the provision of dedicated financing and technical assistance.
The fund, managed by Finance-In-Motion, was initiated by Germany’s KfW Development Bank with financial support from the German Federal Ministry for Economic Cooperation and Development (BMZ).
FMO will invest in senior shares. The funds will be on-lent to local financial institutions that target sustainable businesses/projects (i.e. certified or identified as green). In addition, the fund looks to set up strategic partnerships with commodity buyers to finance smallholders and also to finance high impact projects directly. Priority sectors will be sustainable agriculture, fishery, forestry and tourism.
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