eco business Fund partners with ueno bank to accelerate sustainable finance in Paraguay
Article originally published on eco.business Fund's website on 22/12/2025. LACIF contributes to eco.business Fund through technical assistance and financial instruments.
The eco business Fund has provided a USD 10 million senior loan to ueno bank, marking its first partnership with the innovative bank to scale sustainable agriculture and forestry finance across Paraguay.
This transaction represents a landmark for the eco business Fund: a key step in deepening the Fund’s presence in Paraguay. ueno bank, the disruptive bank that is leading the country’s financial inclusion, now serves 2.5 million clients, offers a unique channel to expand access to green finance in a country where agriculture and forestry account for roughly 20% of GDP. The partnership underscores the Fund’s mission to promote climate-smart and biodiversity-aligned practices in one of Paraguay’s most strategic sectors.
Funds will be directed towards sustainable agriculture and forestry, including:
- Financing SMEs and Corporates in key value chains such as cereals, horticulture, and sugarcane, with adoption of sustainable practices like no-till farming, organic fertilization, biological inputs and efficient irrigation systems.
- Supporting forestry and land-use sustainability through commercial reforestation (native and exotic species), silvopastoral systems, and natural forest restoration
- Institutional strengthening and technical assistance aimed at supporting the bank’s sustainability strategy and reinforcing its green finance capabilities.
Michael Evers, Chairperson of the Board of the eco business Fund:
“Paraguay’s economy depends heavily on agriculture and forestry, sectors that face growing environmental challenges. By partnering with ueno bank, we are channeling capital into sustainable practices that protect biodiversity and strengthen climate resilience, while supporting a systemic institution that can scale impact nationwide.”
Diego Stapff, Portfolio Manager at Finance in Motion, advisor to the fund:
“This investment enables ueno bank to launch its first green credit line and integrate sustainability into its digital-first model. Together, we aim to transform agricultural value chains through climate-smart technologies and biodiversity-friendly practices.”
Juan Manuel Gustale, President of ueno bank:
“For ueno bank, having strategic allies such as the eco business Fund reinforces the confidence of foreign investors in Paraguay and also strengthens the credibility of our financial system. This support validates our digital and innovative business model and reaffirms our strong commitment to sustainability as a driver of long-term impact and inclusive growth.”
The investment is expected to benefit more than 2,200 clients engaged in sustainable agriculture and forestry, with measurable environmental benefits such as soil regeneration, reduced water consumption, and enhanced biodiversity. It supports SDG 2 (Zero Hunger), SDG 13 (Climate Action), SDG 15 (Life on Land), and SDG 17 (Partnerships for the Goals), while reinforcing Paraguay’s green finance ecosystem.
About ueno bank
A universal bank with a digital-first strategy, with a leading position in terms of number of customers, credit and debit cards and total transactions. It was founded with the purpose of providing financial access to everyone, developing simple, human, and accessible products and experiences. The bank serves over 2.5 million clients nationwide, accounting for more than half of the adult population. ueno bank is the first and only financial institution to be carbon-neutral nationwide and committed to advancing sustainable finance.
ueno bank is part of Grupo Vázquez, a business conglomerate with more than 5,500 employees and over 20 companies operating in the finance, technology, entertainment, and real estate sectors.
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About the eco business Fund
The eco business Fund supports sustainable business and consumption practices that protect biodiversity, use natural resources responsibly, and address climate change in Latin America, the Caribbean, and sub-Saharan Africa. It finances nature-positive investments through local financial institutions, direct lending to companies and producers. The fund focuses on agriculture, fishery (including aquaculture), forestry, and tourism, which can have a strong impact on nature. The fund also provides advisory and capacity-building support for its investees via development facilities linked to the two regional sub-funds.
Initiated by Germany’s KfW Development Bank and Conservation International, and advised by Finance in Motion, the fund benefits from first-loss capital from BMZ, the European Union, and the UK Department for Environment, Food and Rural Affairs (DEFRA). The sub-Saharan Africa sub-fund launched in 2020 with BMZ support, while the Latin America and Caribbean sub-fund is backed by several leading development finance institutions and institutional investors.
For more information please visit www.ecobusiness.fund
About Finance in Motion
Finance in Motion is a global impact asset manager focused exclusively on sustainable development in emerging markets and developing economies. The company structures, manages, and advises impact investment funds that bring together public and private investors to address climate change, strengthen biodiversity conservation, foster the sustainable use of natural resources, improve livelihoods, and promote economic opportunities.
For more information, please visit us at: www.finance-in-motion.com
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