Financial Alliance for Sustainable Trade
Encyclopedia
The Finance Alliance for Sustainable Trade (FAST) is an initiative of the International Institute for Sustainable Development (IISD) that represents financial institution
s committed to sustainable production and the trade of sustainable goods. FAST is made up of over 100 members, including socially oriented and alternative lending institutions, SME producer organisations, development institutions and other stakeholders in the agricultural commodities supply chain.
FAST is an organization whose mission is to ensure the continued growth of sustainable production and trade by improving access and availability of affordable finance to sustainable producers in developing nations. By identifying and implementing concrete and innovative strategies, such as the Financial Marketplace (aka: Lending Marketplace, FAST helps bring potential borrowers and financial service providers together. The Financial Marketplace was launched April, 2009.
The FAST secretariat is located in Montreal, Canada
and is staffed by a small team of eight employees.
Financial institution
In financial economics, a financial institution is an institution that provides financial services for its clients or members. Probably the most important financial service provided by financial institutions is acting as financial intermediaries...
s committed to sustainable production and the trade of sustainable goods. FAST is made up of over 100 members, including socially oriented and alternative lending institutions, SME producer organisations, development institutions and other stakeholders in the agricultural commodities supply chain.
FAST is an organization whose mission is to ensure the continued growth of sustainable production and trade by improving access and availability of affordable finance to sustainable producers in developing nations. By identifying and implementing concrete and innovative strategies, such as the Financial Marketplace (aka: Lending Marketplace, FAST helps bring potential borrowers and financial service providers together. The Financial Marketplace was launched April, 2009.
The FAST secretariat is located in Montreal, Canada
Montreal
Montreal is a city in Canada. It is the largest city in the province of Quebec, the second-largest city in Canada and the seventh largest in North America...
and is staffed by a small team of eight employees.
Projects and Initiatives
- Guarantee Facility for Social Lending
- Financial LiteracyFinancial literacyFinancial literacy is the ability to understand finance. More specifically, it refers to the set of skills and knowledge that allows an individual to make informed and effective decisions through their understanding of finances...
Training - Impact Assessment Tool
- Financial Marketplace
Organization History
- 2002 – the idea for FAST arose at the “Sustainable Trade Committee” of the Social Venture NetworkSocial Venture NetworkThe Social Venture Network is a network of socially responsible business leaders committed to building a just and sustainable world through socially and environmentally sustainable business. As of 2007, SVN has over 430 members in the United States....
- 2003 – with funding from USAIDUnited States Agency for International DevelopmentThe United States Agency for International Development is the United States federal government agency primarily responsible for administering civilian foreign aid. President John F. Kennedy created USAID in 1961 by executive order to implement development assistance programs in the areas...
, Root Capital, at the time known as EcoLogic Finance, assumed the role of "lead management agency" for the partnership, called the Finance Alliance for Sustainable Trade (FAST) - 2005 – the International Institute for Sustainable Development (IISD) took the leadership role in FAST
- 2006 – the FAST Steering Committee was formed, composed of representatives from RaboBankRabobankRabobank is a financial services provider with offices worldwide. Their main location is in the Netherlands. They are a global leader in Food and Agri financing and in sustainability-oriented banking...
(Netherlands), Cordaid (Netherlands), ForesTrade (US), Root Capital (US) and the IISD (Canada). - 2007 – FAST officially launched operations
- 2008 – FAST opened its secretariat in Montreal, Canada and began accepting memberships
- 2008 – FAST received two new grants $150,000 from Citi Foundation and $75,000 from Lodestar Foundation totaling US $225,000 donated