SEEDS FOR PROGRESS FOUNDATIONStatus: Approved investment
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Who is our customer
Our client is the Mercon Coffee Group’s Seeds for Progress Foundation. It's main goal is to improve access to high-quality education in Nicaragua and Guatemala. The Foundation’s activities contribute to social development and sustainable economic growth by creating opportunities to advance the quality of life of students, teachers and their families in the rural communities of Nicaragua and Guatemala’s coffee-growing regions.
What is our funding objective?
The objective is to support Mercon Coffee Group’s Seeds for Progress Foundation with the establishment and replication of two so-called Escuela y Café (“School and Coffee”) Colombian pilot projects in two different coffee communities in Nicaragua, to incentivize rural youth to remain in the coffee industry to ensure the continued supply of coffee.
Why do we fund this investment?
FMO is funding this project because it is highly relevant for FMO’s AFW strategy and its sustainability and inclusiveness ambitions. It is also aligned with MASSIF’s focus on improving livelihoods for smallholder farmers, including youth employment because the project’s impact is expected to contribute to inclusive development and economic growth.
|Date||Total FMO financing|
|9/3/2020||EUR 0.10 MLN|
- Latin America & The Caribbean
- Agribusiness, Food & Water
- Effective date
- Total FMO financing
- EUR 0.22 MLN