Arlington, VA/Paris, France - The French Development Agency (Agence
Française de Développement) signed a $3.5 million agreement on July 7 for an expansion of an innovative fund supporting green businesses.
Verde Ventures at Conservation International (CI) invests in some of the most biologically rich and threatened ecosystems on the planet. It provides loans to small- and medium-sized businesses that create economic opportunities while contributing to local development and the conservation of natural resources for future generations.
This agreement makes CI the first nongovernmental organization to receive a loan from AFD, and further expands a long-term partnership between the two.
“AFD is at the forefront of the idea that development and conservation are not incompatible ideas but instead tightly related to the well-being of future generations,” said Niels Crone, CI Chief Operating Officer.
“CI is one of our most effective and innovative partners with government, civil society and the private sector,” said Jean-Michel Severino, AFD Chief Executive Officer.
Since 2000, Verde Ventures has supported enterprises contributing to the protection of more than 300,000 hectares of important lands and 191 globally threatened species and benefiting more than 40,000 local people in 13 countries. The investments have been mainly in sustainable coffee, cocoa and ecotourism to date, and new sectors are being explored.
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White & Case LLP provided external legal support on a pro bono basis relating to this new endeavor.
For more information:
Rob McNeil, International Media Director, Conservation International:
rmcneil@conservation.org, tel: +1 703 341 2561, mobile: +1 571 232 0455
Laure Weisgerber, Département des Relations Extérieures et de la Communication, Agence Française de Développement:
weisgerberl@afd.fr, tél: +33 (0)1 53 44 30 57
Agence Française de Développement (AFD) is a public establishment and has been working for over sixty years to combat poverty and promote the development of South countries within the framework of France’s official development assistance. AFD is active in the field in over 70 countries and Overseas France and finances and supports projects to improve living conditions for populations, boost economic growth and protect the planet. www.afd.fr
Conservation International (CI) applies innovations in science, economics, policy and community participation to protect the Earth's richest regions of plant and animal diversity in the biodiversity hotspots, high-biodiversity wilderness areas and key marine ecosystems. With headquarters in Washington, D.C., CI works in more than 40 countries on four continents. www.conservation.org