ImpactAlpha, April 11 — AGRI3 Fund has raised $13.5 million in equity funding from the Global Environment Facility, a multilateral trust fund based out Washington, D.C. The investment will expand the fund’s “capacity to mobilize further financing for sustainable agriculture and forest conservation,” said AGRI3 Fund’s Nick Moss.
By providing guarantees and subordinated loans to commercial banks and other financial institutions, AGRI3 aims to catalyze $1 billion for reforestation and climate-smart agriculture projects in Africa, Asia and Latin America.
A partnership between the U.N. Environment Programme, or UNEP, and Dutch banking giant Rabobank launched AGRI3 at the Davos gathering in January 2020. Dutch development bank FMO and Rabobank anchored the fund with $40 million each. Mirova, FOUNT and Cardano Development are the fund’s investment advisors.