{"id":10617,"date":"2018-02-26T02:45:24","date_gmt":"2018-02-26T02:45:24","guid":{"rendered":"https:\/\/bioma.redlac.org\/?p=10617"},"modified":"2026-02-27T15:49:11","modified_gmt":"2026-02-27T15:49:11","slug":"program-related-investment-initiative-for-climate-change-adaptation","status":"publish","type":"post","link":"https:\/\/bioma.redlac.org\/?p=10617","title":{"rendered":"Program related investment initiative for climate change adaptation"},"content":{"rendered":"\t\t
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The Forever Costa Rica Association (FCRA or the Association) is the administrator of the Second Debt- for-Na- ture Swap between Costa Rica and the United States. Since 2010, FCRA pursues the conservation of terrestrial and marine ecosystems in perpetuity through the management of this fund, in addition to the Association\u2019s private trust. Buoyed by the success of this work and the strategic mission-based alliances it has forged, the Association is launching a Program Related Investment (PRI) Initiative that will catalyze investments, with capital procured from the Debt-for- Nature Swap, in small and medium scale enterprises (SMEs) or businesses developing sustainable use programs within and surrounding the Second Debt-for-Nature Swap prioritized geographical areas.<\/strong><\/p>

PRIs allow foundations to increase the scope of their work by making investments (most often in the form of low interest loans or guarantees) in charitable activities that increase the impact of the organization\u2019s work. Using this approach, FCRA is in a unique position to further its mission in alignment with Costa Rica\u2019s sustainability and economic development goals by supporting the creation and growth of green businesses rooted in social, economic, and environmental standards.<\/p>

After obtaining approval of the Oversight Committee (OC) of the Second Debt-for-Nature Swap, FCRA launched its PRI Initiative that consists of the reallocation of $1 million to support innovative entrepreneurs whose businesses are generating financial returns while positively impacting the environment and the livelihoods of those associated with them.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

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\n \n \n \n <\/svg>\n <\/div>\n\n The Association\u2019s PRI Initiative is the first of its kind in Latin America and represents a forward-thinking way of using Conservation Trust Funds (CTF) to finance mission driven, sustainable SMEs. It is made possible because prior to this Initiative\u2019s pilot phase, FCRA\u2019s existing portfolio of green SMEs received capacity building grants from the Association to strengthen their business and financial plans and operational structures, making them attractive to investors. Connecting these small businesses with future PRI makers, identifying funding gaps, making loans to the PRI Initiative\u2019s pilot investments, and expanding the work\u2019s scope are all key milestones that FCRA\u2019s Initiative hopes to achieve. In this way, FCRA\u2019s work is catalyzing sustainable business finance opportunities by convening and coordinating the green investment and SME sectors through the leveraging of relationships and available funding. <\/div>\n <\/div>\n \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n To date, the Association has screened and scouted investment ready pilot SMEs procured from its green portfolio. It has also developed monitoring and evaluation tools and indicators to measure PRI mission related impacts and researched lessons learned and best practices for other international PRI making foundations. Furthermore, it staged the Green Economy Investment Summit in Costa Rica in conjunction with the National Stock Exchange. The Summit was a milestone event highlighted by the signing of an agreement between FCRA and the National Stock Exchange to develop joint actions to promote Costa Rica\u2019s green economy. The event and partnership produced the Green Economy Principles Declaration which was adopted by 60 private and public institutions, opening a window of opportunity for companies, public institutions and other key stakeholders, and therefore developing the stepping stones to promote the green economy movement in Costa Rica. <\/div>\n <\/div>\n <\/div>\n \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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