Green Mountain Coffee, partners back Coffee Farmer Resilience Initiative
Green Mountain Coffee Roasters, along with its partners Multilateral Investment Fund of the InterAmerican Development Bank and Skoll Foundation, has backed Root Capital’s Coffee Farmer Resilience Initiative.
The $7m initiative is aimed to stabilize supply chains by investing in coffee farmers, who are exposed to the risk of leaf rust epidemic in Latin America, which is the highest incidence in 40 years.
Root Capital will lend more than $10m for resilience investments, and provide financial management training, to 50 agricultural enterprises representing 40,000 farmers across Latin America.
The partners will combine long-term lending with short-term trade credit, financial management training, climate-smart agronomic assistance and household-level income diversification, to finance the replacement of diseased coffee trees affected by the fungal disease.
Green Mountain Coffee Roasters Coffee Sourcing Excellence vice president Lindsey Bolger said that the investment will provide coffee farming families with the tools and capacity they need to more successfully confront threats to their coffee and their livelihoods, through greater long-term resilience at the cooperative and household level.
Root Capital founder & CEO Willy Foote said, "The initiative is a blueprint for agricultural supply chain sustainability that creates shared value for farmers, buyers and consumers."