Green Bank: Sustainable resource use and environmental conservation
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Banco Agropecuario - Agrobanco launched the Banco Verde project to promote the sustainable use of resources and environmental conservation through specialized financing for sustainable green projects, good environmental practices, agroforestry in native communities and technified irrigation.
Agrobanco's Green Bank, supported by the European Union and the French Development Agency, is part of Peru's institutional mission and commitment to reduce greenhouse gas (GHG) emissions, led by the policy guidelines of the Ministry of the Environment and the Ministry of Agriculture and Irrigation.
Richard Hale, president of the development entity, explained that Banco Verde proposes an improved sustainable business approach for the creation of economic, social and environmental value in the projects financed, contributing to food security, incorporating the need for adaptation and mitigation in sustainable agricultural development strategies to address climate change.
50 million credit line from French cooperation and a non-reimbursable contribution of 5 million euros from the European Union for financing and technical assistance.
The green portfolio identified by Agrobanco includes financing for forestry activities such as: forests, plantations, investment capital, crops under agroforestry systems such as: cacao, pecan, coffee, bamboo, maca, kion, chestnut, mango, quinoa, banana, irrigation system, tara, among others.
Agrobanco has set a goal for 2019 to increase its green portfolio, which finances climate-smart agriculture and agroforestry projects, from 9% at present to 20%, thus contributing not only to developing sustainable agriculture, but also to participating in the reduction of greenhouse gas emissions.
The launching of Banco Verde took place at the Parque Voces por el Clima, in Surco, with the collaboration of the Municipality of Santiago de Surco.
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