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IDH Farmfit Fund and Oikocredit co-investment in Aldea Global to support Nicaraguan coffee smallholders

IDH Farmfit Fund and Oikocredit co-investment in Aldea Global to support Nicaraguan coffee smallholders

ALD-NI-50.jpg30 November | 2021

IDH Farmfit Fund and Oikocredit are providing a  syndicated US$ 3.2 million loan to Asociación Aldea Global Jinotega, a Nicaraguan small farmers’ association that produces and exports speciality fair trade and organic coffee from its members to Asia, Europe and the US.

Aldea Global will use the joint eight-year loan to construct and equip its new dry coffee mill with cutting edge technology, resulting in better coffee quality and productivity and an increase in incomes for 6,200 of Aldea’s farmers.

Jose Augusto Cordón, Oikocredit's Senior Investment Officer, said: "We are very glad to strengthen our support for Aldea Global, an Oikocredit partner since 2007, with this new long-term investment. The benefits for the smallholders are clear, with improvements in efficiency and quality translated into better incomes and higher environmental standards. In addition, our first collaboration in Latin America with IDH Farmfit Fund has been an excellent experience, and we hope to continue strengthening our cooperation with them."

Read the press release here

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