Project detail - SEEDS FOR PROGRESS FOUNDATION

SEEDS FOR PROGRESS FOUNDATION

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Who is our client

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.

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 we fund this project

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
Signing date
9/19/2019
Total FMO financing
EUR 0.22 MLN
Fund
MASSIF
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)