Amazonia Finance Network Expands Membership and Finances Pilot Projects for Sustainable Growth in the Amazon Region

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 [https://c212.net/c/link/?t=0&l=en&o=4190875-1&h=528489647&u=https%3A%2F%2Fidbinvest.org%2Fen%2Fsustainability%2Fsustainability-week-2024&a=IDB+Invest%27s+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 Invest and IFC launched the Amazonia Finance Network during COP28 [https://c212.net/c/link/?t=0&l=en&o=4190875-1&h=1197778483&u=https%3A%2F%2Fwww.idbinvest.org%2Fen%2Fnews-media%2Fidb-invest-and-ifc-launch-amazon-finance-network&a=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 [https://c212.net/c/link/?t=0&l=en&o=4190875-1&h=3976567088&u=http%3A%2F%2Fwww.idbinvest.org%2F&a=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, analuciae@iadb.org [mailto:analuciae@iadb.org]

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