eco.business Fund, SANAD Fund gets $32.8m Ecobank loan
eco.business Fund, a biodiversity conservation-focused impact investor with operations in Latin America and the Caribbean (LAC) and sub-Saharan Africa (SSA), has joined forces with the SANAD Fund for MSMEs, a leading impact investor in Middle East/North Africa (MENA) and selected countries in SSA region to announce a landmark partnership with Ecobank Group.
This strategic collaboration makes available a substantial USD 32.8 million loan facility and technical assistance designed to contribute to catalysing and strengthening the agricultural sector across SSA. Both eco.business Fund and SANAD Fund for MSME are advised by Finance in Motion.
The primary objective of the alliance is to provide crucial financial support to the agricultural sector, foster sustainable growth, mitigate climate change impacts and post-harvest losses, as well as address pressing challenges faced by farmers and agribusinesses in the region.
The facility, offered through Ecobank Group, exemplifies the commitment of eco.business Fund and SANAD to bolster economic resilience and sustainability across SSA. The SANAD financing will be primarily targeted at small and medium-sized enterprises in the agricultural sector in select SSA countries.
The USD 32.8 million loan combined facility provides a substantial infusion of resources that will be channelled toward providing tailored financial solutions.
The loan is expected to be accompanied by dedicated capacity-building measures through the Technical Assistance Facilities of both funds for the benefit of smallholder farmers, agricultural enterprises, and related businesses.
The comprehensive financial and non-financial support provided by both funds will promote productivity improvements, and environmentally friendly and sustainable practices, and contribute to inclusive economic growth in the region.
