As farmers increase production and formalize their operations, they will establish the track records required to borrow directly from local financial institutions. The farmers are supplying cocoa to two subsidiaries of Barry Callebaut: the Societé Africaine de Cacao, and Biopartenaire, both operating in Côte d’Ivoire.
While Côte d’Ivoire leads the world in the production and export of cocoa, the country’s farmers could vastly increase their yields with improved training and access to credit. This project will help thousands of small farmers improve the quality and yield of their cocoa, thereby improving incomes.
Through this project, up to 100,000 smallholder farmers will receive access to credit by the 2020/21 season, and an expected $24 million in benefits will be generated to smallholders as a result of this investment. By year two, participating farmers are expected to receive an income increase of 23 percent.
The project is also expected to have an appreciable impact on the agricultural value chain in Cote d’Ivoire. The risk sharing facility will also have significant small farmer reach and contribute to improving farmer incomes by increasing the quality and yield of cocoa collected over time.