Amazonia Finance Network Expands Membership And Finances Pilot Projects For Sustainable Growth In The Amazon Region

(MENAFN- PR Newswire) MANAUS, Brazil, June 13, 2024 /PRNewswire/ -- For the first time, the
Amazonia Finance Network (AFN) members convened in Manaus during IDB Invest's Sustainability Week , convening global leaders from business, government, and civil society to share best practices in sustainable business. AFN will add 22 new members for a total of 46 financial institutions and will finance pilot projects promoting sustainable investments in the Amazon.

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IDB President Ilan Goldfajn and IDB Invest CEO James Scriven participated in a press conference during IDB Invest's Sustainability Week in Manaus, Brazil. The flagship event convened hundreds of global leaders from business, government, and civil society to share best practices in sustainable business.

IDB Invest and IFC launched the Amazonia Finance Network during COP28 to increase investment flows, mobilize capital, and promote financial inclusion across the Amazon region.

AFN members engaged in a "Tambaqui Tanque" to select innovative pilot projects. Thirty proposals addressed solutions in financial inclusion, SMEs, agribusiness and forestry, with a potential impact of 2.1 million beneficiaries, 1.2 million hectares of reforested land, and 6 million metric tons of CO2 sequestered by 2030.

Selected projects will gain access to expertise, resources and funding to help them scale to generate significant impact across the Amazon.

About IDB Invest
IDB Invest , a member of the IDB Group, is a multilateral development bank committed to promoting the economic development in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development. With a portfolio of $21 billion in assets under management and 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory that meet the needs of its clients in a variety of industries.

Amazonia Finance Network Members

Banco BTG Pactual S.A.

Banco Cooperativo Sicredi

Banco de Bogotá

Banco de la Producción S.A. Produbanco

Banco de las Microfinanzas – Bancamía S.A.

Banco de Machala S.A.

Banco Pichincha

Banco Santander (Brasil) S.A.

Banco Solidario S.A. (BancoSol)

BBVA Microfinance Foundation

BlueOrchard Finance Ltd.

Bolivian Investment Management Ltd.-BIM

Centro Cooperativo Sicoob (CCS)

CMAC Huancayo S.A.

COAC Jardin Azuayo

Corporación de Crédito – Contactar

Demerara Bank Limited

Finabank N.V.

Financiera Confianza

Guyana Bank for Trade & Industry

IDB Invest

International Finance Corporation (IFC)

Instituto Nordeste Cidadania (Inec)

VINCI Partners Investimentos LTDA.

New members announced (2024 Sustainability Week)

Aqua Capital

Banco Fie

Bemol

Caja Los Andes

Ceape

Ciderural

Citi

COOPAC KORI

Compartamos

Cresol

DAI Capital

Finance in Motion

Hakrinbank

Impact Earth ABV

KPTL

Microvest Capital Management

Mov Investimentos

Omni

Patria Investments

StoneCo

Visa

Visionamos

Contact: Ana Lucia Escudero, [email protected]

SOURCE IDB Invest

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