Barry Callebaut

A $9 million risk-sharing agreement to help up to 100,000 smallholder cocoa farmers in Côte d’Ivoire access much needed credit.

After a decade of slow growth and a civil war conflict, Côte d’Ivoire is on the rebound.  The agriculture sector has been one of the engines of this strong growth.  As the World’s top coca producer, Côte d’Ivoire provides more than forty percent of global production.

 

To further support the cocoa sector, IFC and GAFSP have invested in a $9 million risk-sharing agreement alongside Barry Callebaut, a leading manufacturer of high-quality chocolate, to help up to 100,000 smallholder cocoa farmers in Côte d’Ivoire access credit needed to grow their production and earnings.

 

The risk sharing facility will also be supported by the Netherlands Sustainable Trade Initiative (IDH), a Dutch development organization. Under the agreement, IFC and Barry Callebaut will equally share the risk in the $9 million local currency-equivalent credit facility, which will help farmers purchase fertilizers and lease large equipment, such as tractors.