Project detail - SEEDS FOR PROGRESS FOUNDATION

SEEDS FOR PROGRESS FOUNDATION

Status: Approved investment
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Disclaimer

The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

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.

More investments

Date Total FMO financing
9/3/2020 EUR 0.10 MLN
Region
Latin America & The Caribbean
Country
Nicaragua
Sector
Agribusiness, Food & Water
Effective date
9/19/2019
Total FMO financing
EUR 0.22 MLN
Funding
MASSIF