The eco.business Fund has pledged $20 million, as part of CAF-led syndicated senior loan to new partner Banco Guayaquil to extend financing to agricultural producers in Ecuador certified by the fund’s eligible sustainability standards. The investment aims not only to promote the use of environmental practices within Ecuador’s main productive segment, the agribusiness sector, it also forms part of the fund’s programmatic approach to establish sustainability as a core business principle for financial institutions in the country.
Banco Guayaquil’s support of leading agribusiness producers and processors in key productive areas of the country makes the bank a strategic ally for the fund in spreading sustainable practices in the sector at a nation-wide level. Additionally, the bank aims to deepen its relationship with clients that are certified under the fund’s eligible standards in agribusiness value chains such as shrimp, banana, cacao, and sugar. Supporting certified agricultural producers in agricultural exporting countries such as Ecuador is helping create a stable uptake from developed markets, steering other local producers toward more sustainable production methods.