2023-08-22 04:02:00
It is the second loan granted by Eco.business Fund for the opening of lines of credit to agro-industrial companies in El Salvador.
Banco Cuscatlán received from Eco.business Fund the second loan to finance sustainable projects in El Salvador, which has an amount of 20 million dollars, as was announced by representatives of the companies on Monday.
The financing will allow the bank to continue promoting business practices that promote the conservation of ecosystems.
In this sense, he points out that this second loan will allow expanding the scope of the financial institution in El Salvador with other sectors. They point out that it is planned to use the funds to promote the incorporation of sustainable technologies throughout the production chain.
“These initiatives aim to reduce carbon emissions and ensure that most of the agribusiness waste is recycled or transformed within the production process,” he explained Monday through a statement.
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It also highlights that part of the loan has been directed to support the adoption of new saving technologies in the processes of its clients.
“The bank has identified potential investments in the production and processing of sugar cane, coffee, dairy products, and sugar,” he notes.
Through this program, it also incorporates “green list measures” as eligibility criteria for granting lines of credit. These are aimed at identifying specific actions for each activity which are applicable to different agro-industrial sectors.
“By including the Green List measures, we can enhance our role in promoting sustainable practices and diversify our impact. This approach will allow us to finance a broader range of activities, including primary production, and accurately report their impact,” said José Eduardo Luna, Executive Director of Banco Cuscatlán.
Business relations between Banco Cuscatlán and Eco.business Fund began in 2019 with the granting of the first loan for $5 million, funds that allowed the bank to grant loans to businesses certified as friendly to the environment within the agro-industrial sector.
agribusiness, promoting the sustainable production of sugar cane, coffee and cocoa, among other representative segments of the economy of El Salvador which were destined to open lines of credit
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