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Project Detail:
Senior unsecured 3-year USD bullet loan of $100 million to finance LDC's working capital needs in Asia for the sustainable procurement of coffee, cotton, and rice. The transaction will preserve the livelihood and climate resilience of [60,000] smallholder farmers affected by COVID-19 in the five project countries. A complementing TA (funded by trust funds) will establish 80 farmer groups and train 160 farmer group educators with an aim to help farmers obtain sustainability certifications.
Smallholder farmers in the project countries, who are already vulnerable to climate change, have been further impacted by the coronavirus disease (COVID-19) pandemic and ensuing economic slowdown. LDC, as a sustainable buyer of agricultural projects, supports the livelihoods and climate-adaptive capacity of farmers by providing reliable incomes. The project will assist LDC to maintain its operations in the project countries by funding inventories of coffee, cotton, and rice procured from more than 50,000 farmers in the project countries throughout the COVID-19 pandemic. The attached TA will expand the scope of the extension services already provided by LDC and its affiliates to cotton farmers in India and coffee farmers in Indonesia.
Note: Please Download Project Document attached to this Project for more information.
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