The International Finance Corporation (IFC), a member of the World Bank Group, has signed an agreement to establish the first training centre for Vietnamese coffee farmers.
The corporation signed the co-operation agreement with coffee trader Atlantic Commodities Vietnam Ltd, a subsidiary of ECOM Agro-industrial Corporation.
"Adding value to our farmer suppliers through farmer training centres makes good business sense for ECOM Group, which has been proven through similar projects in Mexico and Uganda," said Alexander Gruber, general director of Atlantic Commodities Vietnam Ltd.
The centre will train Vietnamese coffee farmers to meet international certification standards, improve the sustainability and productivity of crops, and increase their earnings.
The centre is part of a larger plan for the IFC to provide investment and advisory services to help ECOM Group, a global coffee trader, establish several farmer training centres.
The plan includes a 55 million USD, five-year corporate loan facility for use in six countries, including Vietnam , which was committed in June 2008.
The new training centre, which will target 4,000 farmer households over three years, will help smallholder farmers qualify for sustainable coffee certifications like Utz, Rainforest, or 4C.
As ECOM and other buyers pay premium prices for certified coffee beans, farmers joining the training centres should see their incomes increase through certification.
ACOM and IFC expect about 50,000 non-ACOM farmers to benefit indirectly from exposure to best management practices, and information disseminated by the project./.
The corporation signed the co-operation agreement with coffee trader Atlantic Commodities Vietnam Ltd, a subsidiary of ECOM Agro-industrial Corporation.
"Adding value to our farmer suppliers through farmer training centres makes good business sense for ECOM Group, which has been proven through similar projects in Mexico and Uganda," said Alexander Gruber, general director of Atlantic Commodities Vietnam Ltd.
The centre will train Vietnamese coffee farmers to meet international certification standards, improve the sustainability and productivity of crops, and increase their earnings.
The centre is part of a larger plan for the IFC to provide investment and advisory services to help ECOM Group, a global coffee trader, establish several farmer training centres.
The plan includes a 55 million USD, five-year corporate loan facility for use in six countries, including Vietnam , which was committed in June 2008.
The new training centre, which will target 4,000 farmer households over three years, will help smallholder farmers qualify for sustainable coffee certifications like Utz, Rainforest, or 4C.
As ECOM and other buyers pay premium prices for certified coffee beans, farmers joining the training centres should see their incomes increase through certification.
ACOM and IFC expect about 50,000 non-ACOM farmers to benefit indirectly from exposure to best management practices, and information disseminated by the project./.
