GGF extended a USD 20 million facility to Bank of Georgia in 2021. The loan was issued in Georgian lari. Exchange risk is covered by L shares, a mechanism which removes exposure to FX risks for partner institutions, which has been funded by the EU and the German Federal Ministry for Economic Cooperation and Development. The Bank will on-lend the proceeds to corporate and small and medium clients to advance green investments in construction, manufacturing, food processing as well as hospitality sectors.

Forestal Apepú is a timber production business, partially owned by Arbaro since 2019, located in the San Pedro region in Paraguay. The company acquired land previously used for agricultural purposes and now produces high quality timber for local sawn wood and plywood markets. On a quarter of the company’s land, there is natural forest which is under protection to ensure regeneration. Remaining pastureland is leased to local cattle farmers.

In 2020, eco.business Fund extended a USD 20 million senior loan to Banco Davivienda in Costa Rica. The investment aims to promote the use of responsible environmental practices within Costa Rica’s main productive segment, the agribusiness sector.

Forestal San Pedro is a timber production business, located in the San Pedro region in Paraguay, established and fully owned by Arbaro since 2021. Forestal San Pedro produces high quality timber for local sawn wood and plywood markets, mainly under silvopastoral production schemes. The company leases land from local landowners who predominantly used it for extensive cattle grazing. The net production area is expected to grow to from 5,700 ha to 7,500 ha.

GGF is a minority shareholder in this wind farm project, based in the village of Bogoslovec. The wind farm is currently under construction, with completion expected in 2023. Once complete, the Bogoslovec wind farm will double North Macedonia’s existing wind energy generation capacity, playing an important part in the country’s transition to a diversified renewable energy mix. The project is expected to generate enough green electricity to supply over 20,000 households, resulting in 80,000 tons of avoided CO2 emissions annually.