Bank of American has invested $5 million in the Agri-Business Capital Fund (ABC Fund), becoming the first corporate global financial institution to invest in the fund. Bank of America is also the first investor at the intermediate tranche level.
“The ABC Fund is unlocking capital to build a more sustainable agricultural sector and meet the needs of rural farmers,” said Dan Letendre, managing director, environmental, social and governance, at Bank of America. “The Fund will help to address the impacts of climate change on rural farming as well as drive more innovation in the sector to help meet the United Nations Sustainable Development Goals. Through this investment, Bank of America is supporting higher rural employment and access to inclusive business opportunities, and a more sustainable agribusiness today and for the future.”
The fund invests in smallholder farmers and small- to medium-sized agribusinesses in developing countries to support the development o
