The eco.business fund has just received €10 million from the Dutch Development Finance Corporation (FMO) for the preservation of biodiversity in Africa south of the Sahara. The funds will be invested mainly in key sectors such as agriculture, fisheries, tourism and forestry.
Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO) is stepping up its investments in Africa. The Dutch development finance company has just contributed 10 million euros to the eco.business fund for the preservation of biodiversity. The money has been allocated to the sub-fund recently launched by eco.business to finance sustainable development initiatives in Africa south of the Sahara.
Through its €10 million investment, FMO wants to support business and consumption practices that contribute to biodiversity conservation and sustainable use of natural resources in Africa. In order to achieve these objectives, eco.business has decided to invest this money in important sectors such as agriculture, fisheries (including aquaculture), tourism and forestry (rational exploitation of forest trees).
“Sub-Saharan Africa’s immensely rich animal, plant and marine biodiversity not only provide essential ecosystem services, it also drives the continent’s economy. But this is threatened by a combination of factors, such as deforestation and climate change. The eco.business fund recognises the importance of protecting these unique ecological landscapes, as they affect livelihoods, water supply and food security,” says Jens Mackensen, chairman of the board of the eco.business fund.
In addition to the FMO, the eco.business sub fund for biodiversity conservation in sub-Saharan Africa is also supported by the German Federal Ministry for Economic Cooperation and Development (BMZ) through the Kreditanstalt für Wiederaufbau (KfW). The German development agency has already allocated €18 million to the sub fund.
Jean Marie Takouleu